Stablecoins are becoming central to the success of digital currencies, and around the world, regulators are starting to take a keen interest. This has opened up a great opportunity for a regulatory-compliant stablecoin, and GAP600 is stepping up to fill this void. Daniel Lipshitz joined CoinGeek Backstage to talk about how his company is using the efficiency of Bitcoin SV to power stablecoins.
“We’re working on a stablecoin issuance and brokerage platform. We’re focusing on it being regulatory compliant so that we can have a greater reach and appeal to as much mass adoption as possible,” Lipshitz told CoinGeek’s Becky Liggero Fontana.
GAP600 is also working on supporting payment services and ecosystems within the Bitcoin SV space. However, it’s not limiting its reach and wants to bring onboard any payment process that can benefit from the efficiencies of being on BSV enterprise blockchain.
Stablecoins’ biggest advantage is that they don’t suffer from the price volatility that BTC does. This makes them ideal for use in different sectors, including in direct payments and gambling. Building a stablecoin on BSV blockchain will leverage the efficiencies of BSV, including very low fees and instantaneous transactions to power the stablecoin, Lipshitz observed.
With stablecoins, and other tokens being built on the BSV blockchain, there arises an issue with wallet support and compatibility. GAP600 has been looking into this and has been in talks with some of the popular platforms in the Bitcoin industry to find a way to work together, the CEO revealed.
“It shouldn’t be complex,” he noted. “We are hoping that the value add of the applications and the value add of having a stablecoin on BSV will drive the adoption of wallet implementation.”
GAP600 is one of the many digital currency entities that has chosen to be based in Zug, Switzerland. The CEO told CoinGeek that he settled on Switzerland as it has one of the clearest regulatory stands in the world regarding digital currencies.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.