Secure Digital Markets (SDM), a prominent name in the institutional trading desk of the GDA group, announces its affiliation with ZUSD, the stablecoin launched by Prime Trust and Zytara. It plans to integrate trading pair and currency support to ZUSD.
Each ZUSD is 100% collateralized with a corresponding USD, held and redeemable through Prime Trust, at a 1:1 ratio. It was initially launched on the Ethereum blockchain in December 2020. The company is narrowing its focus towards its mission to incorporate multiple blockchains. To execute the plan, it is preparing to launch the DigitalBits blockchain in 2021.
ZUSD is a programmable dollar for the gaming industry and beyond with several first-use cases. They are:
- exchange of payments at any time using a digital stable dollar;
- tournament payments;
- fan engagement;
- a medium of exchange within the ecosystem of trading platforms;
- programmable incentives; and
- in-game items and enhancements.
Zytara plans to bring its novel digital banking platform and payment network among Millennials, Gen Z gamers, and esports enthusiasts. To enable members to exchange payments, earn on spending, and participate in cryptocurrency first-use cases, Zytara will add ZUSD to its platform. It is being designed in a way that creates awareness and promotes financial inclusion and literacy among gamers, esports enthusiasts, and others.
We’re excited to see Secure Digital Markets announce their support for ZUSD,” said Al Burgio, founder, and CEO of Zytara. “SDM has achieved considerable success across the global digital asset industry. It’s great to see such an institution embrace ZUSD and the vision for it becoming a medium of exchange across the gaming and esports industry.
SDM is one of North America’s renowned digital asset trading desks. It provides custom pathways to digital asset liquidity and off-exchange transactions to institutions, miners, and individuals. To contribute to ZUSD’s credibility, SDM plans to add ZUSD to its trading infrastructure. It’ll also facilitate spot market liquidity to ZUSD against the top 10 digital assets trading pairs. Furthermore, it is targeting all ZUSD settlements to provide them with G10 currency support and full customer-support on all ZUSD-related transactions.
When asked about his opinion, Zachary Friedman, Founder, and COO of Secure Digital Markets said, “Stablecoins are an essential part of the digital asset landscape, driving liquidity and acting as an ideal hedging instrument when capital is deployed and left on the market. As digital assets continue to excel in their respective industry niches, we have been looking for a stablecoin to offer to our gaming and esports clientele; we are thrilled to be adding ZUSD to the portfolio of digital assets that we support.”
Secure Digital Markets is a leading global digital assets firm and a prominent part of the GDA Group. It holds its specialization in capital formation and facilitating trading services to institutional investors. They are a corporate team of early blockchain and digital asset industry pioneers having experience of more than 50 years in traditional capital markets. It facilitates digital asset services to those institutions, exchanges, miners, and individuals who are seeking a safe and secure pathway to digital asset trading & liquidity.