- Nonco’s goal is to make the foreign exchange market more effective than companies and institutions by increasing the quantity of Stablecoin.
- This initiative aims to bridge the gap between the stablecoin market, liquidity, and the FX Institutional Market activity.
The Foreign Labor Initiative (FX) was launched on the Avalanche network by Nonco, a leading company in the trading of the institutional assets. This initiative aims to bridge the gap between the stablecoin market, liquidity, and the FX Institutional Market activity.
Built on Avalanche C-Chein, which acts as a network of network liquidity, FX from Nonco, a protocol on the series responsible for automating transfers between local Stablecoins and supported by USD, such as USDC, USDT, AUSD and others. This makes it possible to complete payments around the world, transfers, and cross -border transactions in a manner that may be more convenient and cost -effective. Nonco’s goal is to make the foreign exchange market more effective in terms of companies and institutions by increasing the quantity of STABLECOIN available on Blockchain.
Bringing prices and liquidity from the institutional class on the chain
both of them Usdt and USDC enjoy market programs that exceed $ 200 billionThis indicates that Stablecoins is already playing an important role in the global financial system. Nevertheless, Stablecoins is still not USD, which is defined as those related to currencies like EUR, MXN, BRL, HKD etc., leaving for a number of reasons. These reasons include insufficient liquidity of diligence and partially partial exchange, operational frictions between traditional companies and Blockchain markets, and expensive transfer rates.
In order to overcome these challenges, FX on the chain seeks to integrate institutional institutional liquidity with the protocol based on collapse in a simple and safe way. This will allow the formation of a more powerful market on the chain.
Some of the main aspects are:
- Providing institutional liquidity: The final factors will be able to reach the liquidity of foreign currencies equal to those in the market outside the chain, but with faster settlement times and longer trading hours. This is possible by communicating with institutional occupants.
- Target FX pricing: RFQ’s -based approach, in cooperation with corporate liquidity, will ensure that prices and differences will be preserved in a more typical way for traditional foreign currency markets instead of options organized by AMM.
- Integration directly with banks and stablecoin exporters: in order to encourage participation from organized financial institutions and the great Stablecoin exporters, the system was developed by institutions only for the purpose of service.
- Implementation and settlement on Blockchain: Forex deals will be resolved automatically on Blockchain in order to simplify transactions that involve several currencies and reduce the risk of credit at the opposite end.
Morgan Kruptsky, head of institutions and capital markets at Ava Labs:
“FX On-Chain changes a step in bringing FX’s institutional liquidity to Blockchain markets. Nonco experience in institutional trading and high-quality networks of partners and customers, along with high-performance infrastructure from Avalanche, was waiting for full performance infrastructure.”
Vaneck invests in Nonco
Nonco has managed to obtain an investment commitment from VNECK, the leading company around the world in asset management and innovation of digital assets. This indicates that VANECK has the confidence in the vision expressed by Nonco. Since its inception, Vaneck has been a strong supporter of Stablecoins as a sabotage force in the world of international payments and international transactions.
CEO Jean Van Eyk stated:
“Nonco has created itself as one of the leaders in providing liquidity to its companies from companies, and we believe that they have the ability to become a leader in the FX market based on Stablecoin.”
The FX On-Shain protocol developed by NONCO to redefine the liquidity of foreign institutional currencies and accelerate the adoption of Stablecoins across both traditional and digital financial markets. Some investors who have previously supported this initiative include Valor Capital, Hack VC, Morgan Creek Digital and others.
Avalanche as an option for institutional finance
When it comes to the FX protocol on the NONCO series, Avalanche will be the default network. When it comes to implementing their digital assets, Nonco joins the expansion menu that uses Avalanche. Nonco is already the market pioneer in terms of stablecoin folders. The increasing number of stablecoin exporters from the US dollar and the American unit were withdrawn to the network as a result of EVM compatibility, speed, cheap fees, expansion and allocation capabilities. Institutional construction companies, users, investors and infrastructure partners were also withdrawn to the network.
Fernando Martinez, CEO of Nonco, said:
“FX On-Thain solves the main inefficiency in Stablecoin Markets: the lack of institutional FX liquidity. Merging the real FX markets with Blockchain infrastructure enables companies to transactions in a state of efficiency designated for education in the field of obligations, and uniformity of part. To launch.”
Almost immediately, the protocol will appear for the first time with USDMXN. After that, it will grow quickly to include USDBRL, Eurusd and other prominent trading pairs, while simultaneously brings more liquidity providers in a short period of time.
Premier Digital Asset Trading Company, NONCO, offers the main liquidity of the institutional counterparts. It is widely recognized as the market pioneer. The company’s operations are divided into two main columns: markets and stables.
In the Markets Department, NONCO cooperates with the boxes circulating on the stock exchange (ETFS), asset managers, brokers, trading companies, and gathering to provide consistent and competitive prices regardless of market conditions. In addition to providing wide liquidity and simplified implementation, the company operates as a reliable party.
NONCO provides assistance to Fintech companies and Web3 platforms that use Stablecoins and local currencies for the purpose of facilitating international payments, transfers and commercial financing through their non -stable business. Nonco contributes to updating the flow of global funds by coordinating the Blockchain technology infrastructure with the implementation of the institutional class.
NONCO gives its institutional counterparts the ability to trade with its public budget with a complete guarantee using a group of high touch service and advanced technology within its operations. Nonco has created itself as one of the most prominent liquidity providers in the field of digital assets, thanks to the steadfast support from the veterans of the industry with more than twenty years of experience.
Today, NONCO provides services for more than 350 parties to institutional institutions, which include the exchange funds on the Stock Exchange (ETFS) in the United States, liquid funds, higher encrypted currency initiatives, and global payment organizations. It is generally recognized as a liquidity provider that uses institutions working in the digital asset market as a main source of liquidity.
