Multi-Currency Stablecoin Platform Blindex Launches on Top of RSK

RSK

The RSK blockchain network continues to expand with a new platform launching on top of it. We are talking about Blindex, a multi-currency stablecoin platform that allows users to mint, redeem, swap, trade and invest without having to use USD. Thanks to the functionalities offered by the RSK blockchain network, it is possible for Blindex to offer one of the most advanced multi-currency stablecoin solutions in the market.

Blindex Platform Launches on Top of RSK

Blindex, one of the most promising forex platforms in the market, is now running on the RSK network. According to a recent press release shared with UseTheBitcoin, this project is the first multi-currency and fractional-algorithmic stablecoin protocol to be released to the market.

Blindex works as an open-source protocol that runs on distributed ledger technology and that derives from one of the most advanced stablecoin projects in the market called Frax. Thanks to RSK’s flexibility and blockchain solutions, Blindex is able to bring some of the most familiar stablecoin concepts into a protocol.

The goal is to redefine the international financial system by creating a new platform that is 100% decentralized. Thanks to a decentralized and inclusive stable financial solution, Blindex is creating the first DeFi platform that is currency-blind.

Blindex’s core contributor, Andrey Shirben explains that the creation of this multi-currency stablecoin platform on top of RSK is just the beginning.

On that matter, Shirben said:

“We truly believe that it could jumpstart a completely new breed of a global financial system and that is why we have a roadmap to extend its functionality. We are planning to add tools that will help earn interest and/or borrow against assets, and even go beyond currencies (into synthetics, pegged to real-life assets). We are really excited about the opportunities that such a platform can create.”

According to the press release, FX-pegged stablecoins are partially collateralized. They are stabilized using algorithms, which makes them fully decentralized. Moreover, the whole protocol is permissionless, open-source and running on one of the fastest-growing blockchain networks on the market such as RSK which provides a whole range of DeFi on Bitcoin and stablecoins options.

Jonathan Gibson

Jonathan Gibson