Coinbase-Backed Stablecoin Startup Reserve to Launch ‘Venmo Style App’ in Venezuela

Stablecoin project Reserve announced that it will launch a crypto-fiat payments app in Venezuela and Angola. In the same announcement, the firm revealed that it is listing its separate utility token, Reserve Rights (RSR), on major exchange Huobi Global’s token sale platform, Houbi Prime.

The project’s stablecoin app to be launched for Android users via Google Play “in the coming weeks” will enable people and businesses to switch back and forth from their local fiat currency to the firm’s stablecoin, the Reserve Dollar (RSD). According to the announcement, RSD is a decentralized, United States dollar-pegged cryptocurrency.
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