Cardano-powered Stablecoin ‘Djed’ To Be Launched This Month

• The Djed team formed a new alliance with DLT development firm Yepple last week.
• The latter enables the acceptance of any NFT by giving users access to payment gateways.

Djed, the Cardano-powered stablecoin, will be released in the latter half of January. According to the official account for the stablecoin. The Cardano community, which has been anticipating the launch of the first algorithmic stablecoin on the world’s biggest proof-of-stake blockchain, responded positively to this news.

The COTI decentralized payment network, which is developing Djed. Has also built a digital currency that accepts both fiat and cryptocurrency payments. Furthermore, it is anticipated that the mainnet launch of Djed, which is being marketed as the first over-collateralized consensus stablecoin on the Cardano chain, would occur in January 2023.

Utilizing Cardano Ecosystem to Full Potential

Moreover, the stablecoin’s payment mechanism, branded DjedPay, can be used at any enterprise or nonprofit. The Djed team formed a new alliance with DLT development firm Yepple last week. The latter enables the acceptance of any NFT by giving users access to NFT payment gateways.

In a blog post, COTI discussed the cooperation. And how it would assist the company guarantee that Djed and the rest of the Cardano ecosystem be utilized to their full potential.

Moreover, Input Output Global, the company behind Cardano, has released the first version of its toolkit allowing developers to create sidechains on the ADA blockchain.

Using the IOG’s developer kit. Programmers may take advantage of the robustness and scalability of the Cardano blockchain to create their own alternative blockchains. The 1,162 projects now developing in Cardano’s ecosystem will be able to take use of decentralization. And scalability of ADA thanks to the upgrade.