Brazilian Real Pegged Stablecoin BRZ Integrates with RSK and Bitcoin Infrastructure

Updated on Sep 3, 2021 at 9:02 am UTC by · 2 mins read

Since RSK has the ability to run smart contracts on the Bitcoin network, this opens up a huge range of possibilities for using the Brazilian cryptocurrency on DeFi.

The Brazilian Digital Token (BRZ), the Brazilian Real pegged stablecoin, has announced its integration with the RSK network. The integration will enable transactions based on the BRZ to attract extremely low gas fees which can be up to 2,000% lower than those initiated on the Ethereum blockchain.

As noted by Transfero’s Blockchain Developer, Solange Gueiros, “RSK combines the best of both worlds: the security of Bitcoin and the power of Ethereum’s smart contracts.” Based on this, projects built on the RSK network are able to take advantage of the advanced security features of the Bitcoin network.

The BRZ on RSK will allow Bitcoiners to adopt and use the Brazilian cryptocurrency on a network they fully trust. The BRZ is also already deployed on the RSK blockchain integrated with crypto wallets that use this environment.

The Brazilian BRZ Stablecoin to Benefit from DeFi Capabilities

According to the team, one of the goals of this integration is to allow the BRZ token a greater deal of flexibility and RSK does indeed enable a wide range of DeFi options.

Since RSK has the ability to run smart contracts on the Bitcoin network, this opens up a huge range of possibilities for using the Brazilian cryptocurrency on DeFi. Thus, using the BRZ in DeFi applications on RSK means harnessing the full potential of decentralized finance.

Worldwide, the BRZ is the largest stablecoin paired to a national currency, other than the dollar, having reached in May of this year the mark of 1 billion tokens issued. With BRZ, you can move balances between international platforms in seconds via blockchain technology, and it is also a hedging instrument for digital assets.

Share:

Related Articles

IOVLabs Commits $2.5M to Onboard Developers with Grants and Hackathon

By May 18th, 2023

IOVLabs aims to bring together talented individuals who can contribute to scaling Bitcoin and advancing the Web3 space.

Blindex Multi-Currency Stablecoin Platform Launched on RSK

By March 2nd, 2022

Blindex seeks to build a set of stablecoins, collectively known as BD-Stables, and their inherent technical capabilities are derived from the Frax Protocol whose unique stablecoin design solution was adopted.

Mainstream Adoption to Take Center Stage in 2022 as Blockchain’s Maturation Endures

By January 17th, 2022

Here are three on-chain projects accelerating the mainstream growth and adoption of blockchain technology for 2022 and beyond.

Exit mobile version