Crypto market maker B2C2 has launched PENNY, a brand new platform that allows zero-fee prompt swaps between main stablecoins, amid rising demand from institutional traders for frictionless liquidity instruments, it introduced in a press launch on Thursday.
The announcement comes because the stablecoin market expands past crypto-native buying and selling to funds, banking, and funds use instances.
PENNY at present helps six stablecoins (USDT, USDC, USDG, RLUSD, PYUSD, AUSD) throughout Ethereum, Tron, Solana, and several other layer 2 networks, with extra belongings to be added frequently.
B2C2 mentioned PENNY will allow customers, together with banks, service provider acquirers, exchanges, and stablecoin infrastructure corporations, to robotically alternate tokens with out charges or counterparty threat.
Swaps are settled on-chain via B2C2’s institutional buying and selling infrastructure, which processes roughly $1 billion in stablecoin buying and selling quantity every day.
“Stablecoins have transcended the crypto buying and selling use case,” B2C2 Group CEO Thomas Restout mentioned in a launch.
“As conventional monetary establishments and companies more and more undertake stablecoin fee rails, PENNY supplies priceless infrastructure for real-time execution and settlement with out the chance of community fragmentation and the friction and excessive prices of buying and selling on exchanges,” he added.
The announcement comes within the wake of accelerating regulatory readability within the US, EU, and Asia, which is accelerating the adoption of regulated stablecoins and inspiring new issuers reminiscent of banks and fintechs.
“PENNY is an prompt, no-cost facility focusing on the actual financial system,” B2C2 US CEO Cactus Raazi mentioned in an interview with CoinDesk.
Raj added that the platform is a “important improvement in market construction” and a significant step ahead within the evolution of the stablecoin market.
Wall Avenue financial institution Citi (C) expects the worldwide stablecoin market capitalization to develop from about $300 billion in 2025 to as a lot as $4 trillion by 2030.
Based in 2015, B2C2 is without doubt one of the earliest and largest institutional liquidity suppliers in cryptocurrencies, facilitating over $2 trillion in transaction quantity throughout 15 blockchains. The corporate operates regulated entities within the Americas, Europe, and Asia Pacific.
