We’re partnering with Emparta to build and launch Australia’s first Aussie dollar-backed stablecoin
Sep 21 2018 · by Jonathon Miller
Category: Partnership Announcement
Our team is excited to announce that Bit Trade is partnering with Emparta to build and launch the first Aussie dollar-backed stablecoin.
We see extraordinary opportunities for this stablecoin in the Australian market and look forward to being one of the first to use this game-changing digital currency.
Unlike bitcoin or Ether, stablecoins are digital currencies pegged to a reserve or asset such as the US or Australian dollar. Importantly, the value of a stablecoin is exactly that – stable and relative to the underlying asset.
Stablecoins solve one of the principal issues that may drive investors seeking steady returns and merchants that currently accept traditional currency away from digital currencies: volatility.
We believe that stablecoins will boost trust, accelerate wide-spread adoption, and could function as the backbone of blockchain-based financial applications, especially here in Australia given the favourable regulatory environment.
There are a wealth of use-cases for stablecoins, including:
Wages & rents or any other recurring payment
Remittance to cover price differences while payments are being processed
Store of value for longer term hedging, such as for miners to cover recurring cost and facilitating a stable income
Commerce & payments for any business to accept everyday payments, in either fiat or cryptocurrencies, thus avoiding volatility
Lending & prediction markets (long-term issuances)
Trading & wealth management. In this case, stablecoins are needed because they:
Provide easier visibility and adoption by showing fluctuations in fiats
Provide arbitrage opportunities
Provide exposure to fiat rates (other than through ETH or BTC)
Provide denomination of trading pairs in AU dollars instead of bitcoin or Ether
In essence, stablecoins bring the benefits of blockchain technology like transparency, security, and immutability without losing the assurances of trust and stability offered by fiat currencies.
Founded earlier this year by Adam Sarris and James Hill, Emparta is a blockchain company tackling the changing nature of employment.
Their world-first infrastructure will empower both employers and job-seekers globally by enabling instant onboarding and seamless payment solutions. Their platform offers heightened data security and an identity solution, and ensures compliance with all local hiring laws. What’s more, employees don’t even need a bank account to get paid!
Later this year, Emparta is embarking on an ICO to raise funds to launch its smart employment infrastructure.
You can learn more about Emparta at emparta.io
The opportunity to work with Emparta on building and releasing the country’s first stablecoin is massive, and we are thrilled to continue in true Bit Trade tradition – as first movers.
Over the past five and half years, we have seen the industry explode and evolve. To meet changes in the market, we have a whole host of updates and innovations planned that will transform the way you engage with your blockchain investments.
Discover the future of Bit Trade and find out how you can be a part of it with our upcoming equity crowdfunding.
Learn more about our equity crowdfunding