VNDC and ambition to become the representative Vietnam on the global stablecoin market
Overcoming the mistakes of Tether, many other stablecoins are more transparent, more tightly managed, and stronger backing has been created. Stablecoin VNDC, a stablecoin project is still in its infancy but the prospect promises to be no less than its seniors.
Stablecoins are largely preferred by crypto traders and investors these days as these assets are protected from the roller coaster of volatility by being anchored to physical assets, such as leading fiat.
Based on that demand, VNDC is developed with outstanding advantages and is expected to simplify the process of users’ cryptocurrency trading on the Viet Nam market. A potential capital market that major exchanges want to access.
Overview of VNDC and VNDC.IO gateway
For greater certainty, VNDC is a stablecoin by VNDC LTD UK, issued on a blockchain platform basis and 100% backed by Viet Nam Dong (VND). The value of VNDC is always on par with VND (1 VNDC = 1 VND). VNDC is built and developed on the basis of ERC-20 standard Ethereum Blockchain and Binance Chain standard BEP-2.
VNDC plays as core banking system that provides technology and blockchain system (includes blockchain nodes and infrastructure) for Vietnamese financial institutions (includes resellers, banks…). This system then can be utilised as a mechanism for trading and hedging in global crypto capital markets, as well as, preparation for the upcoming global stablecoin movements.
Referring to VNDC, we can mention its superior features, include:
- Stability: VNDC is stabled with and backed by Viet Nam Dong (VND). Users are absolutely not affected by price fluctuations like other cryptocurrencies. All VNDC currencies are backed 100% in VND or the equivalent of VNDC.
- Transaction cost reduction: Users will minimize the cost of two-way foreign currency conversion, from VND to USD (and vice versa), when trading, investing cryptocurrencies.
- Transparency: All VNDC circulating is guaranteed by the amount of VND deposited at counterpart banks at the rate of 1 VNDC = 1 VND.
- Security: VNDC 2.0 is developed on the basis of Blockchain to ensure transaction safety, speed and reasonable transaction costs.
- Easy and convenient: VNDC can be exchanged directly to VND on VNDC.IO platform via bank account, with extremely low cost and fast processing time. Currently, the conversion fee from VNDC to VND is zero, which means th
- at users can sell VNDC and receive VND directly into their bank accounts without any transaction fees in no time.
As mentioned above, VNDC.IO is a gateway supporting users to whom would like to exchange from VNDC to VND quickly, conveniently and easily. Once you completed the exchange process, the corresponding amount of cash will be directly transferred to your bank account.
You can register to use the VNDC.IO gateway right here.
The ecosystem is open
When it comes to the “power” of a cryptocurrency, many people often think of technological breakthroughs or ideas. But in fact, a large and stable ecosystem is the decisive reason for the sustainability of the coin, because the new ecosystem is a place that can ensure liquidity, as well as create practical use. And those things, VNDC completely owned.
VNDC’s ecosystem includes:
- VNDC for Vietnamese: The first stablecoin reciprocal at a ratio of 1: 1 to VND, is a transit tool in the digital asset market for the Vietnamese investor community.
- VNDC for Staking: VNDC is the first stablecoin of VietNam and the first stablecoin that offer staking at 12% annual rate.
- VNDC for Life: VNDC will connect with most areas of life from learning activities, entertainment, entertainment, vouchers, cards, games,…
VNDC’s ambition to enter the international stablecoin market
VNDC makes cost-effective use of Blockchain for P2P transactions, allowing fiat to be transferred without intermediaries such as PayPal, banks, and money transfer services such as Western Union. Users can not only convert from one currency to another but also from currencies to and from Bitcoin.
In the midst of digitalization and the trend of cashless being gradually popularized, with its outstanding features, VNDC is expected to quickly be widely accepted, the official digital currency of VietNam. This stablecoin has the potential to empower everyone involved in today’s rapidly growing cryptocurrency economy, which will become a cornerstone of the next generation economy.
Over the past few years, the number of stablecoin projects that have emerged has been uncountable at the fingertips. The most prominent among them are still big names such as Libra (Facebook), Global Monetary Organization (GCO) with USD Digital (USDD), …
However, the outstanding problem is that no team can develop a widely accepted stablecoin in the community without compromising the security and decentralization features of the network. There are very few companies in the world following this path. And the VNDC Alliance and Da Nang Blockchain Association with VNDC stablecoin be pegged 1:1 to the VND is one of them.
Those who are not good will be eliminated
Perhaps the best known stablecoin is USDT (USD Tether), which acts as an anchor price for the dollar in some of the world’s largest cryptocurrency exchanges. While this function seems to be quite useful, the company behind USDT – Tether Limited, has been criticized for its business operations management and market manipulation. In the wave of recent accusations, the relationship between Tether Limited and Bitfinex has also been harshly condemned by the community.
With all of the controversy and distrust surrounding Tether (USDT), it’s no surprise that countless new alternatives have appeared recently.
How has VNDC solved the difficult problem of the Vietnam market?
Vietnam is one of the markets with active cryptocurrency trading in the world. Traffics from Vietnam to CoinMarketCap, Bitcointalk or crypto exchanges such as Coinbase, Binance, Bittrex, Poloniex … continuously reached the top 5.
However, to be able to participate in Bitcoin exchanges, Vietnamese users must go through at least two exchange rate conversion steps on OTC exchanges such as Remitano, Huobi OTC. Trading fees in fiat and depositing / withdrawing cryptocurrencies on OTC platforms are quite expensive. Therefore, users always need to find an intermediary currency to help reduce exchange rate costs and facilitate transactions.
VNDC is developing day by day and following its original directions, solving the problems, difficulties and barriers that Vietnamese investors are facing. Digitizing Viet Nam Dong is a good idea, and it will certainly make it much easier to transfer money, especially for consumers who are subject to significant charges by third party intermediaries. With a strong team and advisors from strong communities in the country, VNDC is expected to bring Viet Nam on par with international Blockchain projects, entering the international stablecoin market.
- Fanpage: www.facebook.com/vndc.io/
- Twitter: https://twitter.com/Vndcstable
- Linkedin: https://www.linkedin.com/company/vndcstablecoin
- Medium: https://medium.com/vndc-ltd
- Telegram community: t.me/vndcvietnam
- Telegram channel: https://t.me/vndcstablecoin
- Youtube: https://www.youtube.com/channel/UClfdu29ebkGbb4JTdqqwT2w
- Website: https://vndc.io/