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Mezo’s 100% Bitcoin-Backed mUSD Stablecoin Is Coming To Velar’s PerpDEX
In a significant move, Mezo’s decentralized stablecoin, mUSD, is set to launch on Velar’s PerpDEX platform. This integration will mark a pivotal moment for the DeFi ecosystem as mUSD becomes an integral part of Velar’s perpetual contract trading experience.
mUSD is a unique 100% Bitcoin-backed stablecoin, ensuring its pegging and stability. This innovative approach differs from other stablecoins that are often backed by a mix of assets or collateralized with a single asset. The addition of mUSD to PerpDEX will provide users with a more reliable and robust option for trading and risk management.
In an interview with Crypto News Flash, Velar’s CEO Mithil Thakore explained the significance of this integration: “mUSD is now poised to become a crucial component within Bitcoin’s nascent DeFi ecosystem. By launching on PerpDEX, mUSD will increase accessibility and provide users with more alternatives for their trading activities.”
Once launched, mUSD will be available for trading, borrowing, and liquidity provision, further enhancing the user experience. This integration also paves the way for additional use cases to emerge later in the year.
Thakore emphasized the benefits of this collaboration: “The integration of mUSD into PerpDEX will enable users to enjoy greater capital efficiency and offer more freedom when choosing a stablecoin to serve as margin for their perps trading activities.”
This announcement marks a significant step forward for Mezo and Velar, solidifying their commitment to innovation within the DeFi space. As we move forward, it will be exciting to see how this integration unfolds and what new possibilities arise.
Source: Crypto News Flash
Source: https://www.crypto-news-flash.com/mezos-100-bitcoin-backed-musd-stablecoin-is-coming-to-velars-perpdex/?utm_source=rss&utm_medium=rss&utm_campaign=mezos-100-bitcoin-backed-musd-stablecoin-is-coming-to-velars-perpdex
