GDA Group’s institutional trading desk, Secure Digital Markets (SDM), announced the addition of trading pairs and currency support for ZUSD. The new asset is an esports-focused stablecoin developed by Prime Trust and Zytara.
Secure Digital Markets provides institutions, miners, and individuals with custom pathways to digital asset liquidity and off-exchange transactions. The addition of ZUSD to SDM’s trading infrastructure will provide ZUSD spot market liquidity against trading pairs for the top 10 digital assets and include G10 currency support on all ZUSD settlements. The trading desk will also extend its customer-support services to all ZUSD-related transactions.
Al Burgio, Zytara’s founder and CEO commented on ZUSD’s inclusion in SDM’s services. “We’re excited to see Secure Digital Markets announce their support for ZUSD. 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,” he said.
ZUSD is an integral part of the Zytara platform. The digital asset is part of its broader effort to provide digital banking and payment services for the esports industry’s fast-growing Millennial and Gen Z audience.
As a programmable dollar for the multi-billion dollar industry, ZUSD solves some of its most pressing economic problems and introduces innovative features. These include sending and receiving payments at any time using a stable digital currency, a medium of exchange that is native to trading platforms, faster tournament payments, a tool for fan engagement, and the ability to program incentives as well as in-game items and enhancements. Every ZUSD is backed by USD and redeemable through at a 1:1 ratio after Zytara partnered with Prime Trust.
ZUSD is also set to be ported onto the DigitalBits blockchain in 2021 after the announcement of its launch on Ethereum in December. The move is part of the company’s mission to incorporate multiple blockchains.
SDM founder and COO Zachary Friedman said that “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,” he added.
Secure Digital Markets brings together a world-class team of executives with more than 50 years of combined traditional capital markets experience and early blockchain and digital asset industry pioneers. SDM provides bespoke digital asset services for institutions, exchanges, miners, and individuals seeking a safe and secure pathway to digital asset trading & liquidity.