Edgecoin price

EDGT

Edgecoin (EDGT) is issued by UK-based company Edgecoin Bank. According to its whitepaper, Edgecoin Bank claims to be a decentralized crypto bank that offers a modern twist on traditional finance by providing its users with a fast and easy payment gateway. Through the system, customers can deposit their Edgecoins into digital wallets.

EDGT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar. According to the company, the token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiat deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of EDGT in circulation.

As laid out in its whitepaper, Edgecoin Bank is assisting customers in over 120 countries to manage their crypto assets, and plans to become the leader in global payments by offering a variety of services such as money transfers and settlement solutions powered by its fiat-backed stablecoin, Edgecoin (EDGT).

As laid out in its whitepaper, Edgecoin offers an innovative solution to the issues surrounding unregulated and non-fiat-backed stablecoins. As a digital asset, it merges the benefits of traditional financial systems with those offered by the Internet: strong infrastructure, regulatory oversight, and currency stability.

To secure a stable peg to the US dollar, EDGT tokens are supported by an array of reserves which include commercial paper, fiat deposits, cash, reserve repo notes, and treasury bills. This is in order to ensure that their total value remains equal to the volume of EDGT tokens circulating in circulation.

A unique feature of Edgecoin is the number of utilities it provides. Users are able to use EDGT to make transactions. Another incentive EDGT holders receive is the Gradecoin which is a DeFi coin designed to reward those who are holding their EDGT tokens in their wallets.

EDGT is issued on the Stellar blockchain, which is secured using the Stellar Consensus Protocol. It has four main properties: “Decentralized control, low latency, flexible trust, and asymptotic security.”

Through SCP, anyone is able to join the process of achieving consensus, and no single entity can end up with the majority of decision-making power. Transactions are also confirmed cheaply and within a few seconds — and safeguards are in place if bad actors attempt to join the network.

EDGT can be purchased on various centralized exchanges such as ProBit Global, CEX.IO, Coinsbit, P2B and HitBTC.

Keep track of EDGT live prices in real-time with the CMC mobile app.

Read about Tether (USDT) — the leading stablecoin by market capitalization.

Read about USDC.

Learn more about why stablecoins depeg with CMC Alexandria.

Learn more about stablecoins with CMC glossary.