Cardano Stablecoin Djed Will Strengthen Its Very Own Payment System


Djed (DJED), a highly awaited stablecoin from Cardano, may soon have its own cryptocurrency-based payments system for everyday purchases, online shopping, and charitable contributions.

Today, November 23, 2022, DjedPay’s mobile interface was previewed for the first time on the company’s Twitter account.

According to the published screenshot, the future project will enable consumers to transmit DJED, Cardano’s USD-pegged stablecoin, with a few clicks. The user needs just save his or her email address and name to approve the transaction.

Due to the interface’s resemblance to the dashboards of Web2 neo-banks, transmitting cryptocurrency through DjedPay will be straightforward for even crypto novices.

The logo of the charitable foundation is seen on the screenshot. As a result, the Djed team may have alluded to its potential use in charitable programmes and projects.

In the meanwhile, Input Output Global and COTI Network, two groups monitoring the development of the Djed stablecoin, have remained mute on DjedPay’s true plan.

As previously reported by U.Today, CEO of COTI Network Shahaf Bar-Geffen revealed the amended “final” release date for Djed’s mainnet during the recent Cardano Summit.

According to his assertion, the stablecoin will launch on the mainnet in January 2023. Over forty dApps have already included it as a potential payment method as of press time. Djed will be supported by the liquidity of ADA and use SHEN token as its reserve coin.

Also Read: New York Governor Hochul signs legislation prohibiting Proof-of-Work crypto mining

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