Nollar Stablecoin Makes a Successful Debut with Independent Audit Firm Attestation
Stablecoins has been in vogue recently, which is hardly surprising as this variation of digital assets provides investors with a safe harbor in the rough seas of cryptocurrency markets.
High volatility and lack of certainty inherent to digital currencies often discredit their ability to function as a medium of exchange. A digital asset cannot effectively serve as a store of value or a means of payment if its exchange rate is prone to unpredictable, violent swings.
Stablecoins are supposed to solve these issues by making cryptocurrencies less volatile and more secure. To achieve this stability, the coin is often pegged to one of the traditional assets like fiat currency, gold and such.
Currently, there are about 34 stablecoins in circulation with new projects popping up like mushrooms after heavy rain. Many traditional financial institutions are considering their proprietary stablecoins creating a space for significant growth and innovation within the coming years.
Nollar (NOLLAR) is one of the recent stablecoin projects with significant potential, making its way into the top 10 stablecoins.
Recently, it has successfully passed its first audit carried out by an independent audit firm which confirmed the asset-backed collateral in the amount of $1.16 million.
Nollar is a digital asset that combines the stability of USD with the best features of a cryptocurrency, including feeless & instant transfers, green and secure p2p payments, micro-payments and IOT automatic settlement with pay per usage/unit.
Despite the dominance of such established rivals as Tether and Paxos, the project is quickly growing its market share due to increased functionality, transparency and security.