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In a recent announcement on Twitter, OK Coin founder Star Xu stated that the company has partnered with Prime Trust and will be launching their own stable coin in the future called OKUSD.
The news was made public on twitter by both parties confirming the partnership.
OK Coin will be partnering with Prime Trust, a Blockchain-driven trust company providing custody, AML/KYC compliance, funds processing, IRAs, & asset protection to ICOs, real estate & crowdfunding portals.
Read more: OKEx now supports USDT-Tron stablecoin
I'm very excited about the strategic partnership with @PrimeTrustCo. We will carry out an in-depth collaboration and offer diverse, secure and regulatory compliant services with Prime Trust. I look forward to leveraging our synergies. https://t.co/omrIt2SI5j
— Star Xu (@starokcoin) March 28, 2019
The partnership will allow OK Coin to launch a complaint stablecoin which will operate OK Chain in the future. The announcement comes after Tron CEO Justin Sun announced the launch of his own stable coin which partnered with Tether (USDT). The stable coin is called USDT-TRON and looks to offer more variety and stability to TRON.
Stable coins appear to be the flavor of the week as they continue to become more prevalent in the industry. USDT still remains the number one traded stable coin followed by USDC and TUSD.
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