1inch companions with ICHI to launch the one1INCH stablecoin
NewsThe decentralized change 1inch has partnered with the ICHI platform to situation a brand new stablecoin – one1INCH – with a 1: 1 conversion to USD. 1inch compan...
[ad_1]
The decentralized change 1inch has partnered with the ICHI platform to situation a brand new stablecoin – one1INCH – with a 1: 1 conversion to USD.
In a July 1 press release, 1inch mentioned it’s planning to “combine” two cryptocurrencies, 1INCH and USDC, to kind a brand new stablecoin. This plan shall be supported by ICHI’s Decentralized Currency Authority (DMA).
“One1INCH may evolve into an financial turning level. On a big scale, its crates can add worth to 1 inch. Because this stablecoin is issued and collateralized with the 1INCH cryptocurrency, “shared 1inch co-founder Sergej Kunz.
Launched in May 2021, ICHI’s Decentralized Currency Authority (DMA) permits initiatives to create and handle stablecoins absolutely backed by the venture’s token. In the case of a 1INCH 1INCH coin and collateral USDC.
1inch Foundation and ICHI will contribute $ 100,000 every as collateral. The One1INCH coin shall be issued utilizing 80% USDC and 20% 1INCH.
ICHI’s Decentralized Currency Authority might enhance the variety of stablecoins pegged to the USD. This is the choice chosen by initiatives to switch conventional stablecoins resembling Tether (USDT).
In truth, USDT remains to be the biggest stablecoin in the marketplace with a market cap of as much as $ 62.4 billion. However, quite a few different initiatives have affirmed their place and have a big market share within the stablecoin market, resembling Binance USD (BUSD), USDC and Dai (DAI). In addition, there are nonetheless many different stablecoins with equal USD worth, together with TerraUSD (UST), TrueUSD (TUSD), Paxos Standard (PAX), HUSD, Neutrino USD (USDN) and Gemini Dollar (GUSD).
Synthetic Currency 68
Maybe you have an interest:
.
[ad_2]
More From Crypto News
US Treasury Takes Action Against MEXC Over Alleged $16B in Sanctions-Linked Transactions
The Treasury press release identifies MEXC as the subject of the action and ties the exchange to transaction flows connected to three sanctioned or adversarial...
Core Lightning Urges Upgrade to v26.06.10 for Security Fixes
Core Lightning has urged node operators to install v26.06.10, a maintenance release from the ElementsProject/lightning repository that addresses issues in two a...
XRP Ledger Fixes Bug That Could Have Created New Tokens
The XRP Ledger has patched a disclosed security bug that could have allowed accounts with approved token-burning permissions to also create new tokens, a flaw t...
Why Is Dash (DASH) Price Surging Today? Key Drivers
Dash (DASH) is trading at $49.55, up 10.16% in the past 24 hours as of November 5, 2026, placing it among the day’s top gainers in the broader altcoin market.
Binance Spot Share Falls to 42% After $6.3B Hack
Binance’s share of global spot trading has fallen to 42% in the wake of a reported $6.3 billion hack, with rival exchange OKX emerging as one of the clearest be...
Why Is Arbitrum (ARB) Price Surging Today? Key Drivers Explained
Arbitrum’s ARB token is trading at $0.159795, up 4.80% in the past 24 hours as of November 4, 2026, with spot volume reaching $0.11 billion on the day.
