An institutional crypto liquidity provider has unveiled a new platform aimed at easing cross-chain stablecoin transfers and minimizing operational risks. This initiative seeks to ensure consistent liquidity for major digital assets.
The rapid proliferation of stablecoins and blockchain technologies has complicated liquidity management for various financial institutions, including banks and exchanges. In response, the newly launched service, named PENNY, enables instantaneous stablecoin swaps for institutions, reportedly without incurring fees. This service facilitates automated exchanges among six primary stablecoins: USDT, USDC, USDG, RLUSD, PYUSD, and AUSD. It operates within networks such as Ethereum, Tron, Solana, and Layer-2 platforms.
The platform simultaneously executes trades and settles them on-chain, significantly reducing both counterparty and operational risks. It operates continuously and plans to expand support for additional stablecoins as market needs evolve.
The product has been positioned as a strategic advancement within the company’s offerings. It underscores the transition of stablecoins beyond mere trading assets as traditional finance institutions increasingly recognize their value in payment systems. PENNY is designed to provide robust infrastructure for immediate executions and settlements while mitigating the complexities associated with network fragmentation and high trading costs.
Regulatory clarity in regions like the US, EU, and Asia is prompting banks and fintech companies to investigate the utility of stablecoins in payment processes and treasury functions. Industry analysts estimate that the stablecoin market might surge from $300 billion in 2025 to an anticipated $4 trillion by 2030, reflecting growing institutional interest.
Since its inception in 2015, the crypto liquidity provider has facilitated $2 trillion in digital asset trading and manages about $1 billion in stablecoin transactions daily. Its international network encompasses various regulated entities across the Americas, Europe, and the Asia-Pacific region, providing round-the-clock execution and competitive institutional pricing.
As stablecoin solutions grow, the new platform aims to address the substantial demand for secure, efficient cross-chain liquidity transfers and fast transactions. This is further bolstered by the recent introduction of cryptocurrency contracts for difference (CFDs) by a prominent Japanese securities firm, allowing traders to speculate on major digital currencies without needing to hold the underlying assets, streamlining the investment process.
Overall, the launch of PENNY marks a significant development in the ongoing evolution of stablecoin usage, catering to the urgent needs of institutional players in a rapidly changing financial landscape.