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Zam.io Plans To Transfer 1% Of Global Equity Capital To The Defi Sector

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Zam.io has announced the creation of zMorgan, a one-of-a-kind system that may produce stablecoins backed by client shares. As a result, every stablecoin created will have real-world collateral. After the stablecoin market cap crossed the $125.7 billion mark in September of this year, crypto investors, hodlers, and the EU administration began to reconsider stablecoins as a potential form of payment.

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Crypto enthusiasts may be ready to transfer their assets into stablecoins in order to protect their profits and avoid losses during a possible October market correction, but heads of state remain skeptical of stablecoins and are wary of using them in everyday life due to issues with their true value.

Stablecoins, according to Christine Lagarde, President of the European Central Bank (ECB), are not the digital equivalent of fiat money because they have major collateral issues. The issuer of the most popular stablecoin, Tether (USDT), has been sued by the New York prosecutor’s office, proving that their coins are fundamentally worthless because they are not backed up by genuine collateral.

Zam.io has introduced zMorgan, a novel protocol that addresses this issue by shifting stock capital to decentralised finance. In the parts that follow, we’ll explain how it works.

The daily transaction volume of the USDT stablecoin reaches $137 billion, according to CoinMarketCap, although the amount of coins really protected by fiat money remains unknown. Representatives for Tether assert that all USDT issued are fully backed by dollars, bills of exchange, and other assets. However, further inquiry revealed that this was not the case. Dummy coins are used by millions of individuals every day.

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“We have been observing problems with securing stablecoins for a long time and fully support the position of the authorities, which is aimed at tightening control over issuers of stablecoins. Users need to be sure that every USDT stored in their crypto wallet has real value. Therefore, we’ve created a unique protocol, zMorgan, that allows the issuance of stablecoins secured by stocks,” George Gus, the creator of Zam.io, explains.

The zMorgan protocol may create a limited number of stablecoins pegged to fiat currencies, such as USDZ (pegged to the US dollar) and AEDZ (pegged to the UAE dirham).