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ZUSD is attractive for its use cases ranging from esports tournament remunerations, serving as a medium of exchange within the ecosystem of trading and gaming platforms, to other programmable incentives.
Toronto-based licensed digital asset trading platform, Secure Digital Markets (SDM) has announced support for emerging gaming stablecoin Zytara Dollar (ZUSD). According to a press release shared with Coinspeaker, the integration will see the virtual asset exchange provide market pairs and currency support for the token.
As the institutional trading arm of the GDA Group, Secure Digital Markets has the customer base to offer the needed swift adoption for the ZUSD tokens. The stablecoin is a product launched by a collaboration between Prime Trust, a startup that empowers fintech innovators with financial infrastructure solutions, and Zytara, a digital banking network designed for millennials and Gen Z gamers, and esports enthusiasts.
SDM will be one of the early backers of ZUSD, a sign of trust for the token’s ambitions to revolutionize the future of gaming and esports.
“Stablecoins are an essential part of the digital asset landscape, driving liquidity and acting as an ideal hedging instrument when capital is deployed and left on the market. As digital assets continue to excel in their respective industry niches, we have been looking for a stablecoin to offer to our gaming and esports clientele; we are thrilled to be adding ZUSD to the portfolio of digital assets that we support,” said Zachary Friedman, Founder, and COO of Secure Digital Markets.
Zytara Dollars (ZUSD): Making Sense of the Support by Secure Digital Markets
There are unique features that define the ZUSD stablecoin and that perhaps spurred the support being shown by Secure Digital Markets.
To start with, ZUSD as a relatively stable cryptocurrency is 100% collateralized with a corresponding USD held and redeemable through Prime Trust at a 1:1 ratio. Currently operational as an ERC-20 token, Zytara hopes to migrate it to the DigitalBits blockchain network in 2021. This will re-emphasize the diversity in the company’s technical accommodations.
ZUSD is also attractive for its use cases ranging from esports tournament remunerations, serving as a medium of exchange within the ecosystem of trading and gaming platforms and other programmable incentives to mention a few.
The stablecoin will be a core part of the Zytara platform, enabling members to send and receive payments, earn on spending, and participate in other benefits made possible through the use of a cryptocurrency. This integration by SDM is designed to promote financial inclusion and literacy, especially among gamers and esports enthusiasts, a mission noted in the official release.
“We’re excited to see Secure Digital Markets announce their support for ZUSD,” said Al Burgio, founder, and CEO of Zytara. “SDM has achieved considerable success across the global digital asset industry. It’s great to see such an institution embrace ZUSD and the vision for it becoming a medium of exchange across the gaming and esports industry.”
Ahead of the roll-out of its other products, the backing from SDM is a plus for the Zytara team as the former’s network can help speed up the adoption of the latter’s offerings.