Secure Digital Markets (SDM), the institutional trading desk of the GDA Group announces SDM is adding trading pairs and currency support for ZUSD, the stablecoin launched by Prime Trust and Zytara.
TORONTO, ON, Feb. 17, 2021 (GLOBE NEWSWIRE) -- February 17, 2021-- Secure Digital Markets (SDM), the institutional trading desk of the GDA Group announces SDM is adding trading pairs and currency support for ZUSD, the stablecoin launched by Prime Trust and Zytara.
Each ZUSD is 100% collateralized with a corresponding USD held with Prime Trust, redeemable through Prime Trust at a 1:1 ratio. ZUSD initially launched on the Ethereum blockchain in December 2020 and will be followed by the DigitalBits blockchain in 2021 as the company executes on its mission to incorporate multiple blockchains.
ZUSD is a programmable dollar for the gaming industry and beyond with use cases including:
sending and receiving payments at any time using a digital stable dollar;
a medium of exchange within the ecosystem of trading platforms;
programmable incentives; and
in-game items and enhancements.
As previously reported, Zytara's plan is to launch the first-of-its-kind digital banking platform and payment network for Millennials, Gen Z gamers and esports enthusiasts. ZUSD will also be added onto the Zytara platform, enabling members to send and receive payments, earn on spending, and participate in other benefits made possible through the use of a cryptocurrency. This integration is designed to promote financial inclusion and literacy, especially among gamers and esports enthusiasts.
“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.”
Secure Digital Markets is one of North America’s leading digital asset trading desks, providing institutions, miners and individuals with custom pathways to digital asset liquidity and off exchange transactions. SDM will be adding ZUSD to its trading infrastructure and will offer ZUSD spot market liquidity against the top 10 digital assets trading pairs. SDM will also be adding G10 currency support on all ZUSD settlements, as well as full customer-support on all ZUSD-related transactions.
“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,” said Zachary Friedman, Founder and COO of Secure Digital Markets.
About Secure Digital Markets
Secure Digital Markets is a proud part of the GDA Group, a global digital assets firm specializing in capital formation and trading services to institutional investors. SDM’s corporate culture brings together a world class team of executives who have more than 50 years of combined traditional capital markets experience and who were early blockchain and digital asset industry pioneers. Secure Digital Markets provides bespoke digital asset services for institutions, exchanges, miners and individuals seeking a safe and secure pathway to digital asset trading & liquidity.
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