FTX added support for Terra’s UST stablecoin
The market capitalization of UST has risen 36% since the beginning of the year
07.03.2022 - 13:55
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What’s new? The FTX cryptocurrency exchange has added support for the algorithmic UST stablecoin of blockchain platform Terra. The TerraUSD (UST) stablecoin is ranked as the 14th largest cryptocurrency by capitalization by CoinMarketCap.
FTX now supports native Terra UST!@terra_money #Terra $UST pic.twitter.com/RPzCXVL6dt— FTX (@FTX_Official) March 6, 2022
What is Terra? It is a blockchain for the creation of stablecoins tied to fiat currencies. The assets are backed by Terra’s native cryptocurrency (LUNA). The native token of the Terra ecosystem, LUNA, is ranked 7th by market capitalization in the CoinMarketCap rating.
What are FTX’s plans? Earlier, the FTX cryptocurrency exchange announced its entry into the European market. The company will begin offering its products to European customers through a specially created licensed investment company.
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