DeFi Dollar Stablecoin Whitepaper | Unitas Enhancing Financial Efficiency in Developing Countries, XREX, ACE, Bitrue, Mastercard Respond

(This article is provided by the Unitas Foundation)

This article is provided by Unitas Foundation.

Unitas Foundation has pioneered a new category of stablecoin: Unitized Stablecoin, with excess reserves in externally pegged US dollar stablecoins, anchored to the local currency of emerging markets. It serves as a pricing unit for cryptocurrency trading and traditional cross-border trade payments. Today, the whitepaper "Unitas: A Decentralized, Exogenously Over-Reserved, USD-Denominated Unitized Stablecoin Protocol for Emerging Markets" has been officially released in English, Traditional Chinese, Simplified Chinese, Japanese, Korean, and Spanish versions.

The Unitized Stablecoin issued by Unitas is decentralized, backed by excess reserves of USDT, USDC, DAI, and other externally pegged US dollar stablecoins, with its value pegged to specific developing country currencies on a 1:1 basis.

Holding Unitas Stablecoin essentially means holding US dollar stablecoins. Therefore, each type of Unitas Stablecoin is identified by its country code in its name, such as USD91, USD971, and USD1 anchoring the Indian Rupee (+91), United Arab Emirates Dirham (+971), and US Dollar (+1) respectively. This implies that holding a USD91, based on the exchange rate at the time of publication, is equivalent to holding 1/91 of a US dollar stablecoin (actual exchange rate subject to Unitas at the time). Serving as a translator between the US dollar and other currencies, the decentralized Unitas protocol ensures that each Unitas Stablecoin can be unconditionally exchanged back into US dollar stablecoins.

Huang Yaowen, Co-Founder and Director of Unitas Foundation, stated: "The design of the Unitas Protocol cuts the US dollar stablecoin into a unit of local currency, enabling people in developing countries to enjoy more convenient and efficient transactions. We welcome global partners and developers, including centralized exchanges, decentralized exchanges, OTC trading service providers, cross-border payment companies, and gaming companies, to build the Unitas ecosystem together."

Pan Yizhang, Founder of ACE Elite Digital Asset Management Group, commented: "Stablecoins are an important medium for improving financial efficiency and trade circulation, and the issuance mechanism is crucial. Through a foundation and a decentralized model, concerns about human manipulation and regulation can be significantly reduced, extending globally. This is believed to be a major breakthrough and trend in the future."

Unitas Foundation is a non-profit organization founded by cross-border payment experts and early adopters of blockchain technology. Stephen Ryan, Senior Vice President of Mastercard, Huang Yaoming, Partner of Draper Dragon, Zheng Guangtai, Founder and CEO of BitTrust Group, Jerry Li, former head of Deutsche Bank's Greater China trading team and member of the Global Emerging Markets Executive Committee at Term Structure, David Pan, Founder of ACE Elite Digital Innovation Group, Ethan Yang, former director of Societe Generale Bank and current head of Matrixport Taiwan, Xiao Huizong, Co-Founder and Chief Revenue Officer of XREX Exchange, and Sun Huang, Chief Security Officer and General Manager, are all founding members of Unitas Foundation.

Jerry Li, who has deep experience in the financial and banking industry, mentioned: "This initiative will create a fairer opportunity and competitiveness for merchants and entrepreneurs in emerging markets, further enhancing their financial autonomy and connecting to the global financial and DeFi systems."