Coinbase-Backed Stablecoin Startup Reserve to Launch ‘Venmo Style App’ in Venezuela
Cointelegraph
Published May 12, 2019 03:38PM ET
Updated May 12, 2019 04:03PM ET
Coinbase-Backed Stablecoin Startup Reserve to Launch ‘Venmo Style App’ in Venezuela
Stablecoin project Reserve announced that it will launch a crypto-fiat payments app in Venezuela and Angola in a press release shared with Cointelegraph on May 12. In the same announcement, the firm revealed that it is listing its separate utility token, Reserve Rights (RSR), on major exchange Huobi Global’s token sale platform, Houbi Prime.
Per the press release, the project’s stablecoin app — to be launched for Android users via Google (NASDAQ:GOOGL) Play “in the coming weeks” — will enable people and businesses to switch back and forth from their local fiat currency to the firm’s stablecoin, the Reserve Dollar (RSD). According to the announcement, RSD is a decentralized, United States dollar-pegged cryptocurrency.
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Written By: Cointelegraph
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