Over the last 24 hours, rumors have been spreading that Near Protocol is set to launch a stablecoin.Near Protocol is bringing out its own stablecoin called USN, The Block has learned, according to two sources familiar with the situation.
According to one source, the stablecoin is on the way but no timeline has been shared internally so far. Rumors surrounding the stablecoin first surfaced when Zoran Kole, founder of Zorax Capital, claimed in afurther noticed that a testnet version of Ref Finance — the second-largest decentralized exchange on Near — showed the stablecoin. The user interface on Ref Finance’s testnet website displays USN under its stableswap section along with other popular stablecoins like USDC, USDT and DAI. This implied that the stablecoin was being tested out, but was not necessarily indicative of the official team.
We have been unable to confirm whether the stablecoin will offer such high yields, as Kole claimed, something that would put it in line with Terra USD .in a funding round led by Tiger Global, with participation from Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and others.Update: This story has been updated with confirmation from a second source, who added a comment on the timeline.© 2022 The Block Crypto, Inc. All Rights Reserved.
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