Horizen Labs and Stably Launching ZUSD Stablecoin on the Horizen EON Network
–News Direct–
In a significant collaboration between two innovators in the blockchain space, Horizen Labs and Stably are excited to introduce the ZEN USD (symbol: ZUSD) on the Horizen EON network. The launch marks the inauguration of the first natively-issued US Dollar stablecoin on the EON network, a cutting-edge EVM-compatible sidechain and smart contract platform developed by Horizen.
ZUSD, the outcome of a collaborative effort between Stably and Horizen Labs, is a fully-backed US Dollar stablecoin. The collateral for ZUSD is held in liquid USD-denominated assets by a designated trustee for the benefit of verified ZUSD token holders. This ensures that each ZUSD token can be minted or redeemed at a 1-to-1 rate with USD or USDC by users who passed Stably's KYC verification proce...