Softbinator Technologies (BVB: CODE), a Romanian company that provides software development services focused mainly on the blockchain, artificial intelligence, and DevOps, announced the implementation within the company of a financial-accounting system that accepts payment with stablecoins and thus became one of the first blockchain providers in Romania to accept payment with such cryptocurrencies.
A stablecoin is a cryptocurrency dependent on a real-world monetary reserve, for example, the US dollar, but not tied to a central bank. Due to belonging to a financial reserve, the value of such a cryptocurrency does not fluctuate, hence its name, and will remain tied to the currency for which it was created. This is an essential advantage for those who own this type of cryptocurrency, compared to Bitcoin or Ethereum, two of the most well-known cryptocurrencies but which are highly volatile.
Regarding examples of stablecoins, Tether is the most well-known currency of this type worldwide, having a fixed dollar conversion rate of 1-to-1 with the US dollar. Other examples of stablecoins are Dai, created in 2015 at the level of the Ethereum blockchain, or USD Coin, implemented in 2018. As of 2022, Softbinator Technologies has a business development department dedicated to the blockchain field, headed by the CTO, Marius Baisan, through which it aims to generate revenues representing at least 10% of the total turnover from blockchain solutions.