HaloDAO, a DeFi ecosystem that aims to build inclusive Web 3.0 infrastructure to bridge traditional and permissionless finance, has recently announced it has teamed up with stablecoin issuer TrustToken to add support for TAUD, TCAD, TGBP and THKD into its dApp, which is expected to be released in September.
HaloDAO, for its part, will support liquidity between the non-USD stablecoins and crypto tokens like ETH and MATIC.
HaloDAO’s activity is focused on driving DeFi and cryptocurrency adoption through the development of stablecoin liquidity networks on countries outside of the United States, specially in Asia. For that purpose, HaloDAO builds DeFi liquidity networks and is now working together with TrustToken to offer greater on and off ramps support into the ecosystem.
One of the main objectives of HaloDAO is to connect global users with the DeFi ecosystem and DeFi yield and trading. To do so, HaloDAO needs to quickly and easily bridge fiat and crypto, which is the reason why the association with TrustToken is specially relevant, as TrustToken allows users to mint and redeem between fiat and stablecoins.
Jun Yong, Co-Founder of HaloDAO, said:
“TrustToken offers a wide selection of non-USD stablecoins and boasts an impeccable reputation and regulatory standing, making it almost a critical partner for HaloDAO. Like for many other attempts at non-USD stablecoins, it’s safe to say that adoption of any token beyond TUSD has been limited so far. We believe it’s an issue of liquidity and usability in the market, and together we can finally give a proper spin to this adoption flywheel, creating meaningful non-USD crypto markets.”