Freewallet has listed a group of new stablecoins, joining them with USDT and DAI on
Multiwallet. The list of added stablecoins includes True USD (TUSD), DigixDAO (DGD), Paxos
(PAX), STASIS EURS (EURS) and USD Coin (USDC). This move comes during a time in which
increasing volatility in the cryptomarket has many turning to risk-minimal investment otpions.
One of the core features of Freewallet as a custodial wallet service is fee-free instant
transactions within the Freewallet ecosystem. In light of the recent additions, this means that
any of Freewallet’s 25 dedicated cryptocurrencies can be exchanged now with the added
Stablecoins like TUSD, DGD and others from the list belong to a category of cryptocurrency that
is intrinsically linked to a form of traditional financial value. While these coins can be traded on
the cryptomarket and offer the same advantages as many other cryptocurrencies, they are each
anchored by static material backing. The anchors ensure that stablecoins are relatively resistant
to cryptomarket fluctuation.
The backing of the coin depends on the individual currency. Freewallet now offers its users
stablecoins with a variety of backing, including crypto-collateralized (DAI), fiat-collateralized
(USDC, USDT, TUSD, PAX and EURS), and metal-collateralized (DGD) options. As none of
these backing factors are connected with the current state of the cryptomarket, these coins have
been relatively unaffected by the cryptohysteria of the last weeks, with some of them even
seeing a rapid expansion of their market capitalization.
About Freewallet: Freewallet is a digital currency ecosystem offering wallets with built-in exchange for web, iOS and Android devices. It features more than 30 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, and Bytecoin.
Freewallet’s team of developers released their first mobile cryptocurrency wallet on Android in January 2016. In 2018 the Freewallet family includes Multiwallet for iOS, Android and the web, as well as 8 single currency wallets for iOS and 22 for Android.