Coin98 Labs announced that it will launch $CUSD, a fully-backed, decentralized stablecoin aiming to become a cross-chain unit of account that fulfills the demand for cross-chain liquidity in DeFi. Users need to send $1 worth of collateralized assets into the $CUSD Reserve smart contract to mint 1 $CUSD. Minting $CUSD will be free, while each redeeming transaction will cost a 0.5% fee. Initially, $CUSD will be deployed on Ethereum, BNB Chain and Solana, and will support $USDC and $BUSD as collateral.
