The XBTO crypto-financial platform together with ex-Bitfinex and Tether manager Philip Potter are working on creating a clearing service for stablecoins, Stablehouse.io. It is reported by CoinDesk.
The service will allow to exchange stablecoins at a liquid market price with a fixed commission. USDT, GUSD, PAX, TUSD, USDC and DAI will be supported.
The stablecoin market at the moment is inefficient and has various disparate stablecoins, with users needing to transact several times with different parties to exchange one stablecoin for another. Stablehouse will address this by serving as a centralized platform that gives issuers, holders and exchanges certainty over access and liquidity, creating enhanced confidence for investors, developers and merchants.
Together with him, David Namdar, a founding partner of Galaxy Digital and SolidX Partners, will join the advisory board of the company, as well as the lead strategist of Blockstream Samson Moe.
In the near future, the founders of Stablehouse intend to obtain a license from the Bermuda Monetary Authority.