Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar, to Combat Centralized Stablecoins
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. London, United Kingdom, 16th March, 2023, Chainwire Sovryn, the leading Bitcoin-based decentralized finance (DeFi) platform, launches the Sovryn Dollar (DLLR).
The Sovryn Dollar introduces a new standard of stablecoin, 100% backed by Bitcoin to provide unparalleled censorship-resistance, security, and reliability.
In response to the regulatory and banking problems centralized stablecoins have recently experienced, the Sovryn Dollar offers a decentralized alternative, backed by and redeemable for, Bitcoin.
The Sovryn Dollar goes live today and is available globally. The Sovryn Dollar offers users the opportunity to hold a stable and reliable digital asset that is pegged to the US dollar without being exposed to the risks associated with centralized stablecoins like Tether or USDC.
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