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A Blockchain startup intends to provide the cross-blockchain pay-outs and has proclaimed that it is preparing to bring its present stablecoin to the EOS network.

Havven is the Australian-based project which stated in a release on Wednesday that it is looking forward to establishing its nUSD Stablecoin by the year-end post the U.S dollar-pegged token initially launched its Ethereum mainnet in June.

The project expressed that its aim is not to shift the tokens fundamental network from ethereum to EOS but to establish the stablecoin in those two networks separately. It’s a mission that it claims to “provide cross-blockchain stablecoins”.

Cryptocurrency as of now is still in its initial stage, so it is not clear which blockchain is going to manage to scale. Havven’s founder Kain Warwick stated in an announcement and added because of this reason, it is essential that projects are offering blockchain framework plan to provide cross-chain compatibility so that their progress isn’t bound to the achievement of whatever chain they’ve picked.

A stablecoin is usually planned to adjust its supply as the market switches to manage a price pegged to a fiat currency so that its consistency would make it simpler for businesses to accept.

For example, stablecoin startup MakerDAO is currently functioning with supply network management firm Tradeshift to make use of its ethereum-based DAI token to assist fast payments for small ventures.

Havven’s efforts come after EOS officially declared the much-awaited network launch in June. Block.One, the creator behind the EOS blockchain also disclosed a $1 billion investment fund to encourage the development of its ecosystem. The main aim of launching cross-blockchain stablecoins additionally follows the past news that IBM is working with a startup called Stronghold to launch a stablecoin on the stellar blockchain.

Simran Singh Sabherwal holds a degree in Mass Communication and Journalism and is currently a content creator at Coinedict. He is an individual with eclectic taste in the occult, esoteric and anything in relation to what happens behind the veil of perception. He also has a keen interest in the interplay of film, geopolitics, espionage and psychological warfare.

Simran Singh Sabherwal holds a degree in Mass Communication and Journalism and is currently a content creator at Coinedict. He is an individual with eclectic taste in the occult, esoteric and anything in relation to what happens behind the veil of perception. He also has a keen interest in the interplay of film, geopolitics, espionage and psychological warfare.

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