Thursday, November 7, 2024 – Solayer has introduced sUSD, a stablecoin backed by real-world assets on the Solana blockchain, marking a notable step in blending traditional finance with crypto. The new sUSD stablecoin launched October 28, is supported by low-risk assets like US Treasury bills, differing from other stablecoins typically backed by traditional banking structures.
Solayer partnered with the tokenization platform OpenEden to create this bridge, allowing retail investors to access government bonds with a minimum investment of just $5.
Through a non-custodial marketplace, users can independently mint and redeem sUSD, avoiding reliance on any central institution and promoting full user ownership.
One standout feature of sUSD is its yield function, which automatically generates returns in USDC, similar to traditional interest earnings.
This yield system aims to appeal to crypto investors seeking both security and returns. Additionally, sUSD provides instant redemption to USDC, enhancing liquidity and flexibility.
This launch occurs amidst a surge in stablecoin activity, with daily transaction volumes reaching $66.77 billion—a 73% increase.
Established players like Tether and USD Coin currently dominate this market, but sUSD aims to carve out a unique space by offering decentralized ownership and financial independence.
