DES MOINES, Iowa, May 14, 2024 /PRNewswire/ — Brale, a US-based regulated stablecoin issuer, is excited to announce it has integrated the Ethereum Classic blockchain into their stablecoin platform and deployed Classic USD (USC) as the first regulated stablecoin for the original EVM network.
Since its inception in July 2015, and throughout the 2016 hard fork which resulted in a split of the original Ethereum ecosystem, Ethereum Classic has operated without a flagship regulated stablecoin. Despite the underlying operating system maintaining protocol parity with the modern EVM-standard, Ethereum Classic’s application layer development has been hindered without this foundational stablecoin asset.
With a regulated stablecoin deployed on the Ethereum Classic network, the greater EVM development community has the opportunity to build web3 financial applications utilizing the USC stablecoin, which will add value to the network’s large underserved miner user base.
“This type of stablecoin implementation represents tremendous opportunities for emerging blockchains. Multi-chain regulated stablecoins are a form of value that can travel between ecosystems, increasing the utility of not only the stablecoin but the functionality of the protocols themselves,” said Ben Milne, CEO Brale.
The EthereumClassic.com team intends to follow the development successes observed on other prominent EVM-compatible chains like Avalanche’s C-Chain, and Ethereum Foundation’s ETH chain, with the goal of maximizing the programmability of the native ETC asset.
As a network, Ethereum Classic has seen great success as a widely adopted and mature blockchain. Eth Classic has an enormous user base in its proof-of-work miners. Presently, Ethereum Classic is the largest proof-of-work blockchain with smart contract functionality.
“Brale was able to implement the Ethereum Classic blockchain in a matter of weeks and deploy USC in hours after the implementation. After years of working to find stablecoin providers to support Ethereum Classic, we’re excited to have found Brale. The native deployment of the USC asset removes third-party risk associated with bridged assets,” said Christopher Mercer, CEO EthereumClassic.com.
About Brale:
Brale is a US-based stablecoin issuer that focuses on combining the best parts of traditional finance with distributed technologies. For more information, visit https://brale.xyz.
Contact:
Chase Merlin
Head of Product
Brale Inc.
[email protected]
https://brale.xyz
SOURCE Brale Inc.
