Crypto market maker B2C2 has launched PENNY, a brand new platform that allows prompt, zero-fee swaps between main stablecoins as institutional demand for frictionless liquidity instruments grows, the corporate stated in a press launch Thursday.
The launch comes because the stablecoin market expands past crypto-native buying and selling into funds, banking and settlement use circumstances.
PENNY at the moment helps six stablecoins — USDT, USDC, USDG, RLUSD, PYUSD and AUSD — throughout Ethereum, Tron, Solana and a number of other Layer 2 networks, with extra belongings anticipated to be added recurrently.
B2C2 stated PENNY permits customers, together with banks, service provider acquirers, exchanges and stablecoin infrastructure corporations, to mechanically swap between tokens with out charges or counterparty threat.
The swaps settle on-chain by B2C2’s institutional buying and selling infrastructure, which processes roughly $1 billion in every day stablecoin quantity.
“Stablecoins have outgrown the crypto buying and selling use case,” stated Thomas Restout, B2C2 Group CEO, within the launch.
“As conventional monetary establishments and corporates more and more undertake stablecoin fee rails, PENNY gives them useful infrastructure for real-time execution and settlement with out the dangers of community fragmentation or the friction and excessive prices of buying and selling on exchanges,” he added.
The launch follows accelerating regulatory readability within the U.S., EU, and Asia, which has spurred adoption of regulated stablecoins and inspired new issuers, together with banks and fintechs.
“PENNY is an prompt and costless facility geared toward the actual financial system,” B2C2 U.S. CEO Cactus Raazi stated in an interview with CoinDesk.
The platform is an “necessary improvement in market construction” and a serious development within the evolution of the stablecoin market, Raazi added.
Wall Avenue financial institution Citi (C) expects the worldwide stablecoin market cap to develop from about $300 billion in 2025 to as a lot as $4 trillion by 2030.
Based in 2015, B2C2 is likely one of the earliest and largest institutional liquidity suppliers in crypto, facilitating greater than $2 trillion in buying and selling quantity throughout 15 blockchains. The agency operates regulated entities within the Americas, Europe, and Asia-Pacific.
