The blockchain technology business VeChain Foundation, which was established in 2015, has raised $1 million in the form of $VeUSD. The major firm was one of the first companies to venture into the field of distributed ledger technology (blockchain).
In addition to China, it has branches in Europe, the United States, Singapore, and Japan. The excellent news was announced on Twitter on March 2, 2022, by the VeChain Foundation and Stably.
Another $1 Million $VeUSD minted, testing almost completed. Making good progress with @Stably_Official on #VeChain's first #Stablecoin & planned future #DeFi/#Web3 infrastructure!#VeChainThor #Blockchain #Sustainability #Carbon #SDGs $VET #Hackathon https://t.co/rrFK6Xw5Y0 pic.twitter.com/xCgPDRjJuz
— VeChain Foundation (@vechainofficial) March 1, 2022
VeChain, a blockchain programme developed by the corporation itself, recently revealed information about their collaboration with the finance company Stably. The goal of Stably is to make every business more efficient by providing speed, security, transparency, and cheap transaction costs. Stably is powered by the blockchain, stablecoins, and open finance APIs, among other technologies.
VeChain, in collaboration with Stably, has been working on the development of VeChain’s first stablecoin. Additionally, they have devised future plans for the DeFi/Web3 structural configuration.
The VeChain Foundation also shared their thoughts on the wallets that can be used to store $VeUSD, namely VeChainThor, Sync 1 and Sync 2 wallets. The announcement has sparked a lot of interest among users.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.