Happy New Year! 2018 was a volatile year for cryptocurrencies, including Bitcoin. The world’s most popular crypto currency lost over $271 billion from its peak about a year ago. Bitcoin market cap dropped from $327 billion to $66 billion over the last 12 months. Amidst the volatility, however, stablecoins seemed to have weathered the storm and continue to gain traction as a digital asset.
Founded in 2018, Mars Blockchain is a Singapore-based cryptocurrency startup committed to becoming a leading stable coin in global cryptocurrency market. Today, the startup announced the launch of its very first stablecoin, 1SG, on two of the most prominent crypto exchanges in the world – Kryptono Exchange & Top.one Exchange. 1SG is the first stable currency linked to Singapore dollar with the goal to optimize the shortage of existing stable currencies such as USDT, TUSD and USDC.
Commenting on the launch, Mars Blockchain said: “1SG to address some of the challenges and the problems facing cryptocurrencies today. 1SG circumvents the volatility of other major cryptocurrencies by maintaining a fixed peg to $1 SGD through financial markets.” 1SG will be available for trading on the platforms as from 1 January 2019, according to a statement from the company. 1SG is currently backed by the global financial center Singapore’s advantageous financial resources, which will inject new vitality into the global cryptocurrency market.
With the launch of 1SG on Kryptono Exchange & Top.one Exchange, 1SG users no longer have to worry about the security of their crypto-assets, or the difficulty of trading with cryptocurrency and fiat. Users will also be able to keep their cryptocurrencies safe through both exchange’s air-tight security measures and trade freely without worrying about potential complications.
Kryptono Exchange is currently ranked top 30 exchange on Coinmarketcap with a monthly volume of over $500 million and is expected to act as the perfect middle man to provide the necessary escrow services for users to buy or sell cryptocurrencies and fiat through peer-to-peer exchanges.
Top.one Exchange operates on advanced distribution cluster architecture and is able to process millions of transactions per second to enable huge volumes to transact seamlessly and fuss free. The Exchange is also internationally appealing and supports more than 20 different languages.
Top.One provides high quality projects with various incubation services, including startup financing, business consulting, resource exchange and exchanges launches. The core team consists comes from top internet and financial enterprises and has profound academic accumulation and experience in internet product development network security, blockchain technology, deep learning, financial services and audit.