VirgoX, a cryptocurrency exchange focused on stablecoin trading has partnered with Global Digital Assets (GDA Capital) to form what they’re calling the World Stablecoin Association (WSA), according to a press release from the group.
This WSA is considered “an independent, not-for-profit organization that is structured and headquartered in Geneva, Switzerland, with a mission to unite business leaders, enterprises, community buildings and regulators in the stablecoin industry internationally,” the release states.
Members of this WSA also include BlockGeeks, and some stablecoin projects such as BRZ, Peg Network, Ren, Stably, and more. Blockchain media are also looking to join the WSA to “curate and deliver stablecoin trends,” the release notes.
Allegedly, the demand for stablecoin growth is on the rise, with an 800% increase in stablecoin activity in the last year alone, the release also states.
Speaking on the matter is Adam Cai, the CEO of VirgoX, who said:
“Stablecoin is evolving rapidly with the exponential growth of total market cap in the past couple of years. The potential of stablecoin applications is yet to be fully unveiled. WSA is established to assist various stablecoin initiatives to develop and get connected within the industry. Every member shall benefit from the open ecosystem that WSA is building.”