Tron-based stablecoin, USDD, has announced a partnership with JustMoney Pay to enhance the use of USDD. According to the announcement, USDD aims to aid a healthy and sustainable stablecoin ecosystem. Now, users can pay for goods and services on JustMoney Pay directly via Tron, BNB, and Polygon.
USDD made the revelation today via its Twitter page. In another separate Tweet, JustMoney Pay confirmed the collaboration. JustMoney Pay disclosed how it team would work alongside USDD to advocate for the “mass adoption of cryptocurrency.” Similarly, JustMoney Pay, via the Tweet, divulged that the partnership would stimulate the use of cryptocurrency for day-to-day payments.
Without a doubt, the partnership with JustMoney Pay will facilitate a new level of utility for USDD. Also, it will enhance the popularity of the newly launched JustMoney Pay. Recall that JustMoney recently initiated JustMoney Pay on June 21 2020. Additionally, JustMoney enables users to make payments with their preferred network and coin by connecting their wallet and JustMoney Pay. Then, the platform would convert that amount to USDT to pay the merchant, who accepts a single type of stablecoin on their platform.
With the partnership, USDD would emerge as an alternative stablecoin to the existing USDT on its platform. The stablecoin is popular for its claims about being a “decentralized and overcollateralized Multichain stablecoin. Meanwhile, USDD is still finding its feet on the stablecoin market. According to Coinmarketcap, USDD ranks 7th on the list of the top ten stablecoins. Currently, it’s behind USDP, TUSD, DAI, BUSD, USDC, and USDT.
Side notes about USDD
USDD is a stablecoin issued by TRON Decentralized Autonomous Organization reserve. Just like other stablecoins, the stablecoin offers stability against market volatility. Furthermore, the stablecoin is designed to have an in-built incentive mechanism and a reactive monetary policy. This policy allows USDD to stabilize itself in a defense pattern against the general volatility of the cryptocurrency space.
Further, the policy helps the stablecoin to project itself as a means of settling payments. This implies that USDD can be utilized directly as a means Of payment. Likewise, the posture encouraged JustMoney Pay to adopt the stablecoin into its platform. The nature of the stablecoin to maintain a stable price added to the conviction for the platform to embrace it.