Telos Blockchain Partners up with Carbon to Launch New TLOSD Stablecoin
Crypto enthusiasts will now be able to purchase TLOS with a credit card, debit card, Apple Pay or bank account.
Buying TLOS is now easier than it has ever been. The Telos blockchain has partnered with Carbon, a FinTech company that provides blockchains with stable coins and increased liquidity. The partnership has resulted in the network's new stable coin, TLOSD, a USD backed coin that is now available on all exchanges that support Telos and the Carbon API.
"The Telos community is thrilled," commented Telos Foundation CPO, Justin Guidici. "The partnership will open up enormous opportunities for applications on the Telos network that wish to use fiat currency."
Initial exchanges that are supporting the partnership are Newdex and Vapaee. Users can go to these exchanges and purchase TLOS with debit, credit, ApplePay, or their *bank account. Additionally, payment through PayPal will be coming soon. Any purchases under $500 USD will not require users to go through a KYC process.
The move is a huge win for the young blockchain, which has grown in strength and depth since its launch in December of 2018. Carbon software engineer Dan Shiferaw cites the network's common-sense solutions as the reason Carbon's decided to support Telos.
"Our dapp will provide frictionless and global access to TLOS via credit/debit cards. Our stable coin TLOSD will provide a reliable store of value and medium of exchange on-chain in addition to direct fiat on/off ramps into and out of the Telos network. Telos has demonstrated truly decentralized networks can come together, get things done, and create real value."
Adding this fiat on-ramp for Telos makes the process of buying TLOS extremely fast from downloading one of the Telos compatible wallets like CoolX, to creating a free account (or importing one) and buying TLOS.
In addition to the announcement of TLOSD, Carbon will provide market-making services across a number of trading pairs and exchanges to increase the burgeoning coin's liquidity.
Telos offers the most advanced governance of any blockchain in existence. The Telos iteration of the EOSIO software leverages the speed and agility of the code to provide its users with high-quality technical solutions to common blockchain problems. The Telos is among the most evenly distributed of any blockchain which enables equitable voting among its users.
Carbon is a FinTech company building a more efficient and inclusive financial system through distributed ledger technology and Artificial Intelligence. The company's initial product is a price-stable cryptocurrency called CarbonUSD that is live on the EOSIO and Ethereum public blockchains.
Source: PR Newswire