The XDB Foundation joins the World Stablecoin Association (WSA), championing the emerging niche of branded stablecoins. The WSA is an independent, not-for-profit organization structured in Geneva, Switzerland, founded by GDA Capital, a leading emerging technology financial institution, and VirgoCX, a leading digital asset exchange, with the mission to unite business leaders, enterprises, community buildings and regulators in the stablecoin industry internationally.
The World Stablecoin Association membership currently consists of the two founding firms and BlockGeeks, whose CEO Ameer Rosic is also on the WSA steering committee, as well as some of the worlds leading stablecoin projects including BRZ, CBRL, Peg Network, QCAD, QC, Ren, Stably, USDK and capital groups such as Alpha Sigma Capital, Consensus Labs, Nova Club. Furthermore, influential blockchain media and communities such as Blockchain Club, Mars Finance, Jinse Finance have expressed the desire to curate and deliver more stablecoin trends with WSA. Membership will also be open to enterprises, government agencies, and other active companies adding value to and advocating for stablecoins.
The use and demand for stablecoins has grown exponentially over the past few years with an increase in on-chain stablecoin activity of 800% in the last 12 months alone, with $290 billion in transaction volume, according to market intelligence firm TokenAnalyst. The total daily trading volume of stablecoins is now the largest of any digital asset on the market today, with the total market capitalization of stablecoins ranking third, ahead of Ripple and behind Bitcoin and Ethereum.
Recently, new categories of stablecoins have begun coming to market, including different fiat currencies, commodities, and economics and governance models. Notably, the emerging niche of branded stablecoins presents several opportunities to generate value for consumers, merchants, brands and payment providers, such as overlaying transaction data with loyalty features and severely reducing processing costs. For companies such as Walmart that transact over $500 billion in sales per year, this can amount to savings in excess of $10 billion.
“We’re really excited to join the World Stablecoin Association,” says Rajiv Naidoo, XDB Foundation. “Branded stablecoins have the potential to revolutionize the way consumers, merchants, brands and payment processors interact, creating value the entire way through.”