The former CEO of Stablecoin Beheemoth Tether aims to support behind a new USDT competitor, according to Bloomberg.
The co -founder of Tether Collins Collins is now the president and co -founder of the PI protocol, a new competitor for USDT, USP, Bloomberg Reports.
Pi Stablecoin is scheduled to be launched on Blockchains Solana (SOL) and ETHEREUM (ETH) later this year.
PI aims to use smart contracts to implement transactions and mint in USP Stablecoin, which aims to support bonds and other assets in the real world.
The project aims to be more central than other Stablecoin projects, such as USDT than Tether, giving users a greater part of the pie, according to the report.
Collins says on the new Stablecoin,
“I have supported the severe cord over the years, it is an extraordinary invention that we have developed …
We consider PI to develop stablecoins.
Tether has succeeded in presenting the demand for Stablecoins. But they keep all the return. After 10 years, we believe that the market is really ready for development. “
The CEO of Pi Bundeep Singh Rangar of the new Crypto project says,
“You want the unrelated encryption assets that range from medium to high and low risk.
We have a mechanism that evaluates the quality of the original. It is those that are examined on their loss rate and preparing where it comes. “
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