Leading, payments focused blockchain player Fuse today announced a major collaboration with Angle Protocol (Angle) that already resulted in the first euro-pegged stablecoin (agEUR) becoming available for users on the Fuse Network blockchain.
Angle is a decentralized multichain protocol for issuing asset-backed stablecoins backed by major fiat currencies. Just like Fuse, the project has a strong focus on payments and decentralized finance, as well as broadening crypto adoption.
Stablecoins created through Angle are based on overcollateralization which is, however, made more efficient by relying on hedging agents and liquidity providers in addition to liquidity seekers. In its quest to make stablecoins more widely available, Angle received support from major venture capital investors, including Andreessen Horowitz (a16z) and Fabric Ventures.
Angle’s first stablecoin agEUR has recently become the largest Euro-pegged stablecoin by decentralized exchange (DEX) trading volume. The collaboration between Fuse and Angle has allowed us to officially bridge agEUR to the Fuse Network blockchain via the Multichain platform. agEUR is currently available for trading on the agEUR/FUSE pool on the Voltage Finance DEX. Fuse has also launched a liquidity rewards program to incentivize liquidity providers on the pool.
The deployment of agEUR to Fuse is an important first step towards expanding the range of high-quality stablecoins available for projects, businesses and users on Fuse. Fuse will also be working closely with Angle on maximizing agEUR’s utility within the ecosystem as well as on exploring new collaboration modalities.
Commenting on the collaboration, Angle Protocol co-founder and core contributor Pablo Veyrat said: “Angle aims at creating the non-USD money layer of DeFi, used not only as an instrument to get yield but also as a means of payment. There’s nothing more natural and obvious than pushing for agEUR on a mobile-centric chain like Fuse.”
On his part, Fuse CEO Mark Smargon drew attention to the need to offer people the widest possible range of currency options, “Fuse is aiming at bringing crypto-powered payments to users worldwide. Making them available to users in their preferred fiat currencies is a key step in the process. The collaboration with Angle enables us to do this for the Euro.”
About Angle
Angle is the first over-collateralized, decentralized and capital-efficient stablecoin protocol. It has launched agEUR which has become one of the biggest and most liquid Euro stablecoins in the market.
About Fuse
Fuse is a platform featuring a fast and low-cost, Ethereum-compatible layer-1 blockchain, a robust plug-and-play mobile-centric crypto payments infrastructure for creating token-based applications and a rapidly growing ecosystem of payments, decentralized finance and NFT projects.
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