On June 24, PANews reported that Flashnet and Brale will launch a USD-backed native stablecoin USDB on the Bitcoin network this summer. This stablecoin will be issued on the Bitcoin Layer 2 network Spark and will be fully backed by U.S. Treasury bonds. The NFT market Magic Eden will also participate in the issuance and circulation of USDB, promoting its application in the Bitcoin ecosystem. The launch of USDB will bring native USD liquidity to Bitcoin without relying on cross-chain bridges or synthetic assets, providing traders, institutions, and developers with safer and more transparent financial tools.
