Telos has partnered with Carbon resulting in the network’s stable coin, TLOSD, a USD backed coin that is available on all exchanges. This news emerged on 26 August.
Telos introduced Carbon as a fintech company that provides blockchains with stable coins and increased liquidity. The blockchain firm further added that crypto enthusiasts would now be able to purchase TLOS with a credit card, debit card, Apple Pay or bank account. Telos conveyed that the initial exchanges that are supporting the partnership are Newdex and Vapaee. Users could go to these exchanges and purchase the virtual currency.
Justin Guidici of the Telos Foundation cited –
“The Telos community is thrilled. The partnership will open up enormous opportunities for applications on the Telos network that wish to use fiat currency.”
Telos sustained by adding that payment through PayPal would be coming soon. The blockchain firm clarified that any purchases under 500 U.S. dollars would not require users to go through a KYC process. Telos opined that this provision was a big move for the budding blockchain, which has grown in strength and depth since its launch. Telos stated that Carbon’s engineer Dan Shiferaw believed the network’s wisdom as the reason to support Telos.
Telos personnel expressed that their decentralized application would provide seamless access to TLOS via credit/debit cards. Telos believed that the stable coin TLOSD would provide a reliable store of value and medium of exchange. Telos further added the provision to direct fiat on/off ramps into and out of the Telos network. The blockchain firm summarized that it had demonstrated that truly decentralized networks could come together.
In a news related to stablecoins, MEDSiS International announced a new strategic partnership that would bring their Maxwell stablecoin into the US and European markets. MEDSiS informed that the new partnership was with Ternio, a US-based blockchain, and payments company. The tech firm further added that the agreement between MEDSiS and Ternio would allow customers to download MEDSiS’ mobile wallet. MEDSiS sustained by adding that users could register for either a virtual or physical payment card within the continental US.
Telos concluded by noting that with the fiat on-ramp for Telos makes the process of buying TLOS extremely fast. Such provision was facilitated through one of the Telos compatible wallets like CoolX. Telos conveyed that in addition to the announcement of TLOSD, Carbon would provide market-making services across a number of trading pairs and exchanges.