Blockchain-powered media options firm PUBLISH and TokenPost, a blockchain and crypto media outlet, have collectively launched the world’s first-ever stablecoin, referred to as NKRW (NEWS KRW), devoted to the media {industry}.

Because the title suggests, stablecoin, at its core, is a digital forex related to real-world fiat currencies. It’s designed in a approach that makes it comparatively secure and fewer risky as in comparison with decentralized cryptocurrencies like Bitcoin. For the longest time, the cryptocurrency {industry} has eyed stablecoin as the following world trendsetter. 

From social media king Fb getting into the stablecoins area with Libra final 12 months, Tether USDT surpassing the recognition of XRP and rising because the third-largest cryptocurrency lately to China diving into area with soon-to-be-launched digital yuan, the stablecoins {industry} is quick gaining traction and the way.

PUBLISH and TokenPost launch media-centric stablecoin

On Thursday, fashionable media firms PUBLISH and TokenPost joined forces, as soon as once more, to roll out NKRW, a media industry-focussed stablecoin. The digital asset is at present obtainable on TokenPost Korea Version and is linked to the nationwide forex, South Korean gained (KRW), on a 1-to-1 foundation. It principally implies that the worth of 1 NKRW might be fastened at one KRW. 

Provided that the PUBLISH and TokenPost constructed stablecoin is pegged to Korean fiat forex, the service is barely obtainable to the PUBLISHsoft consumer base from Korea. 

For the shoppers who want to leverage the stablecoin to draw audiences from different areas, PUBLISH, and TokenPost will quickly launch separate stablecoins which might be suited and pegged to the nationwide currencies of respective jurisdictions, the announcement states.

Earlier than the launch of NKRW, the TokenPost readers had been eligible to obtain NEWS tokens in alternate for searching by way of their articles and leaving high quality and valued feedback that drive readership and visibility. 

From now, customers might be entitled to obtain NKRW and even alternate their beforehand collected NEWS tokens for the brand new NKRW.

Excessive hopes from NKRW

As PUBLISH CEO, Sonny Kwon, states within the announcement, with NKRW the agency hopes to supply a comparatively safe platform for token house owners who want to delve into the cryptocurrency area with out having to emphasize concerning the excessive volatility.

Sooner or later, we count on NKRW to function a medium of alternate for each on-line in addition to offline companions, he stated.

In the meantime, the PUBLISH and TokenPost had beforehand acquired collectively to supply help for crypto withdrawals and deposits on their information web site. Since then, each companies have been working collectively to introduce initiatives that drive reader engagement, encourage high quality feedback and viewership, and efficiently combine blockchain into media purposes.