{"id":3409,"date":"2022-12-16T22:25:04","date_gmt":"2022-12-16T19:25:04","guid":{"rendered":"https:\/\/decimalchain.com\/blog\/?p=3409"},"modified":"2022-12-16T22:27:30","modified_gmt":"2022-12-16T19:27:30","slug":"dusd-its-application-and-functions","status":"publish","type":"post","link":"https:\/\/decimalchain.com\/blog\/dusd-its-application-and-functions\/","title":{"rendered":"DUSD. Its application and functions"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The transition to Smart Chain has already started and it&#8217;s a good time to start describing the features of the new network in detail.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most burning question for many is how will the stablecoin will be implemented. In this article, we&#8217;ll reveal the features of a stablecoin in DSC, how it will be implemented, and its functions.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Stablecoin Theory<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stablecoins are cryptocurrencies backed by fiat currency or another valuable asset, this provides stability and protects against high volatility.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Decimal USD (DUSD)<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the Decimal smart chain, Stablecoin will be introduced as a means of payment linked to fiat currency. This will be possible and available in countries where cryptocurrency is officially allowed and accepted for commodity circulation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company has already obtained the necessary licences to launch Stablecoin, to be more precise:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A digital payment token service. The license gives the right to use cryptocurrency for purchase\/sale or to provide a platform for cryptocurrency exchange<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A merchant acquisition service. With this authorisation, a company can provide processing services, i.e. payment gateway and POS terminals. This means that users will be able to pay with partner companies that accept cryptocurrency payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An e-money issuance service is a licence that allows a company to issue e-money for later use as a means of payment. Also, to register e-wallets and actions with them (deposits, withdrawals, transfers between wallets within the system).\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In the future, Decimal LTE PTD will continue to obtain the necessary licenses to operate in the specific country and to cooperate openly with companies that are ready to supply our users with goods and services for Stablecoin. Funds (reserves) in the required currency will be established to secure the stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The emergence of Stablecoin in the Decimal Smart Chain network will bring additional liquidity and activity. DUSD will be listed on DEX Decimal and other decentralised exchanges.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Decimal LTE PTD is registered in Singapore and at the moment, it is one of the most active countries in the adoption and use of cryptocurrency. In 2022, Singapore passed several regulatory bills, that facilitate the secure circulation of cryptocurrency. There are a total of 7 licenses within the country that crypto providers need to obtain:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Account issuance service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">E-money issuance service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cross-border money transfer service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Domestic money transfer service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Merchant acquisition service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DPT service<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Money-changing service<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">By the way, it is worth mentioning large platforms, which everyone is aware of, that are registered in Singapore. This fact shows the country as a reliable partner and base for developing their crypto business, you can see the results with your own eyes by Decimal!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During one of the AMA sessions, Nick Bogorad talked about what awaits us after the transition. We encourage you to watch the recording: <\/span><a href=\"https:\/\/youtu.be\/b6Hc6exf3LM\"><span style=\"font-weight: 400;\">https:\/\/youtu.be\/b6Hc6exf3LM<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">We will continue to introduce you to all new and interesting features in new articles. Stay tuned for more updates!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transition to Smart Chain has already started and it&#8217;s a good time to start describing the features of the new network in detail.\u00a0 The most burning question for many is how will the stablecoin will be implemented. In this article, we&#8217;ll reveal the features of a stablecoin in DSC, how it will be implemented, &hellip; <a class=\"link-more\" href=\"https:\/\/decimalchain.com\/blog\/dusd-its-application-and-functions\/\"> \u0427\u0438\u0442\u0430\u0442\u044c \u0434\u0430\u043b\u0435\u0435<\/a><\/p>\n","protected":false},"author":2,"featured_media":3410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[48],"tags":[510],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DUSD. 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