- HaloDAO and TrustToken partners to expand the marketplace of stablecoins.
- For the partnership, HaloDAO will add support for TAUD, TCAD, TGBP, and THKD.
Decentralized Finance ecosystem HaloDAO, which focuses on bootstrapping usage for fiat-backed stablecoins, has partnered with regulated stablecoin issuer TrustToken. The strategic partnership will see both businesses working together to expand the marketplace for international stablecoins.
For the collab, HaloDAO will add support for TAUD, TCAD, TGBP, and THKD into its DApp for a planned release in September, this year. It aims to support liquidity between the non-USD stablecoins and cryptocurrency tokens such as ETH and MATIC.
The partnership will provide an option for gamers who earn tokens from Non-Fungible Token gaming to on and off-ramp easily. Other than that, the DAO was set up to lead DeFi and crypto adoption, especially focused on building stablecoin liquidity networks in countries outside of the US.
Of note, HaloDAO aims to build inclusive Web 3.0 infrastructure to bridge traditional and permissionless finance. According to HaloDAO, they do it by building a stablecoin optimized Automated Market Maker (AMM) and Lending Market.
Respectively, Jun Yong, Co-Founder of HaloDAO said,
TrustToken offers a wide selection of non-USD stablecoins and boasts an impeccable reputation and regulatory standing, making it almost a critical partner for HaloDAO. It’s safe to say that adoption of any token beyond TUSD has been limited so far. We believe it’s an issue of liquidity and usability in the market, and together we can finally give a proper spin to this adoption flywheel, creating meaningful non-USD crypto markets.
Meanwhile, TrustToken builds modern financial infrastructure to ensure economic opportunity is open to all. Since TrustToken stablecoins are regulated, they’re also relevant amid recent signs of government interest in crypto.