Bluejay Finance has announced the launch date for its blockchain-based local stablecoins to be November 03, 2022. Bluejay’s stablecoins are the most fundamental building blocks that will bridge cryptocurrency into emerging markets; starting from Asia. It believes that for local economies to adopt cryptocurrency, cryptocurrency must first be served in local stablecoins as units of account that people are already familiar with. By having stablecoins of different currencies around the world on the blockchain, Bluejay Finance lowers the barrier to finance access for both businesses and individuals.
With over 70 percent of Southeast Asians being underbanked or unbanked, there is a clear need to prioritize financial inclusion. Bluejay Finance are one of the first DeFI protocols in Asia that is setting out to build an inclusive financial ecosystem through a comprehensive suite stablecoins and partnerships.
Sherry Jiang, Bluejay Finance CEO said, “We’re really excited about the potential that DeFi has specifically for Asia, where it can help bring the 70% underbanked businesses and individuals into a digital financial economy. Bluejay’s stablecoins are a first step in supporting an ecosystem of products that will build with this goal in mind.”