DeepMindPlatform (DeepMind) has embarked on building a global exchange platform that supports real-time conversion and transfer between stablecoins.
On July 28, DeepMind announced that it has officially launched the website for its stablecoin trading platform 'Stableswap (stableswap.io)' and registered its domain through an overseas subsidiary, marking the full-scale development of the platform.
Stableswap aims to enable real-time swaps and seamless transfers among major stablecoins, including KRDT?a Korean won-based stablecoin issued by DeepMind?as well as USDT, USDC, PYUSD, and FIUSD.
Currently, DeepMind issues KRDT on multiple chains, including Ethereum, Binance Smart Chain (BSC), Base, TRON, and Solana. The company has also successfully established exchange pairs with USDT and USDC on Uniswap and PancakeSwap, completing technical verification.
Additionally, DeepMind has implemented a multi-sig and hardware wallet-based protection system to enhance the security of its smart contracts, and has completed a trademark application for 'KRDT' with the Korean Intellectual Property Office.
This move aligns with the growing competition among global financial and distribution companies to issue stablecoins. Distribution companies are pursuing the issuance of their own stablecoins to reduce payment fees, while financial institutions are expanding their participation in the ecosystem in compliance with regulations.
Recently, the 'Genius Act' signed by U.S. President Trump stipulates that only institutions licensed by U.S. banks and the Office of the Comptroller of the Currency (OCC) can issue stablecoins within the United States. As a result, global virtual asset and big tech companies are seeking to obtain banking licenses. Currently, Bank of America (BoA), Amazon, Uber, and Walmart are reportedly preparing to issue stablecoins.
In Europe as well, major financial institutions are actively pursuing stablecoin issuance. France's second-largest bank, Societe Generale, and Spain's largest bank, Santander, have also officially announced either the issuance or review of stablecoins.
DeepMind's strategy is to preempt the real-time exchange market through 'Stableswap' in line with these global trends. The first phase of the service will focus on linking existing major stablecoins (USDT, USDC, PYUSD, FIUSD, etc.), and the company plans to sequentially expand its linkage services in accordance with the launch schedules of new large-scale stablecoins.
This is because companies in various countries are issuing stablecoins based on the dollar, euro, yen, and other currencies, and the areas of practical use such as remittance and payment are expected to expand rapidly. DeepMind plans to lead the restructuring of digital financial infrastructure by applying the reliability of issuers as a selection criterion for its exchange system.
In particular, a stable exchange system is expected to help resolve the chronic issue of 'currency singularity' that has plagued stablecoins. There are concerns that the value of stablecoins can vary depending on the reliability of the issuer, leading to increased price volatility.
However, DeepMind explained that by establishing an exchange hub limited to stablecoins with verified reliability, it can help alleviate such market concerns.
A company representative emphasized, "Demand for stablecoins is surging in countries where high inflation has destabilized the value of local currencies," adding, "We will expand the Korean won stablecoin ecosystem centered on KRDT and increase the utility of the won in the digital financial market."
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