BitStore.com has recently made a significant move in the world of global crypto transactions by announcing a strategic partnership with USDD, an over-collateralized stablecoin. This collaboration represents a major step forward in the integration of stablecoins into everyday financial activities, allowing BitStore.com users to top-up their accounts with USDD and use it for seamless spending worldwide.
One of the main advantages of this partnership for BitStore.com users is the increased stability it brings to their financial transactions. USDD, known for its over-collateralized nature with a minimum collateral ratio of 120%, provides a safety net against market volatility. This stability is essential for users wanting to use cryptocurrency for daily transactions without having to worry about the usual risks associated with price fluctuations in the market.
Moreover, this integration reinforces BitStore.com’s commitment to transaction security. As the platform continues to grow in the Web3 space, the addition of a stable and reliable coin like USDD ensures that users can manage their finances with enhanced trust and security. This move is expected to attract more users to the platform who are seeking reliable ways to incorporate cryptocurrencies into their daily lives.
Key benefits for BitStore.com users include:
1. Stability in Transactions: Use USDD for regular transactions to maintain stability and confidence regardless of market fluctuations.
2. Global Access with Local Compliance: USDD allows BitStore.com to expand its operations globally while adhering to local regulatory standards by not offering services in the U.S.
3. Cross-Blockchain Compatibility: USDD can be used on various blockchain platforms, enhancing the versatility and usability of BitStore.com’s Web3 card in different cryptocurrency ecosystems.
4. Diverse Transaction Options: Expand transaction possibilities with a variety of stablecoins to create a versatile spending environment within the BitStore.com framework.
The partnership between BitStore.com and USDD has significantly broadened the platform’s global reach, extending its operations across the globe. While USDD expands BitStore’s reach on a global scale, the platform remains compliant with regional regulations by refraining from offering services in the U.S.
Additionally, the collaboration diversifies the blockchain ecosystems accessible through the BitStore.com Web3 card. USDD is supported on multiple public chains, including TRON, Ethereum, BNB Chain, and Avalanche, among others. This multi-chain compatibility increases flexibility for BitStore.com users, allowing them to operate across various crypto environments.
USDD operates as a decentralized stablecoin, backed by a strong security framework based on over-collateralization. Its stability and market value are maintained by using popular digital assets such as TRX, BTC, and USDT as collateral. These assets are valued significantly higher than the total circulating supply of USDD, providing a solid financial foundation for the stablecoin.
A key feature supporting USDD’s stability is the fixed collateral ratio set at 175%. This ensures that for every USDD issued, there is 1.75 times the value in collateralized assets, enhancing the stablecoin’s ability to withstand market fluctuations.
The thorough over-collateralization of USDD aims to guarantee its reliability and distinguish it from other decentralized stablecoins like Terra, which faced issues due to insufficient collateral and reliance on its associated currency, Luna, for backing.