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RhinoFi Announces 1:1 Stablecoin Swaps
RhinoFi unveils a new product to keep stablcoin swaps at the same value without losing leakage in the exchange rate.
RhinoFi supports industry calls for easier ways to ensure 1:1 stablecoin swaps for users (Icarus Chu / Unsplash)
RhinoFi has launched 1:1 stablecoin swaps.
RhinoFi's API now allows clients to transact in top stablecoins USDT and USDC, with no bips lost during the swap. This is currently being rolled out in an initial pilot phase across 25 blockchain networks, so that fintech partners can see how stablecoins can be easily exchanged.
There is an element of pre-defined guard rails here, meaning that it is likely there are some liquidity parameters built-into to be able to ensure that the users receives a full dollar when swapped. Most exchanges will show you a slightly lower return e.g. 1 USDT = 0.997 USDC.
However, as there is also a contingency measure involved for conditions where there are higher pricing fluctuations or turmoil across exchanges - called the "pass-through quote". In that case, RhinoFi will provide real-time stablecoin FX quotes without hidden spreads and a clear fee.
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