Waves Platform CEO announces launch of new stablecoin News ▸ Waves ▸ Stablecoins
Waves Platform CEO announces launch of new stablecoin
Sasha Ivanov announced launch of new stablecoin and addressed Twitter user concerns surrounding depegging.
1 min read
Updated: Aug. 18, 2023 at 12:44 pm UTC
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Sasha Ivanov, the founder, and CEO of Waves Platform has announced that he will be launching a new stablecoin.
Two things:
– I will launch a new stable coin
– There's gonna be a $USDN situation resolution plan set in motion before.— Sasha.waves (@sasha35625) December 20, 2022
Ivanov has previously taken on $500 million debt to restore the USDN peg, and he has stated that a “$USDN situation resolution plan” will be put into action in order to prevent a repeat of earlier events.
Some users have expressed concern about the potential for the new stablecoin to depeg like the USDN stablecoin did multiple times this year.
Ivanov has reassured users that this will not be the case by making a bold declaration stating:
“It will be undepeggable.”
Further, in a conversation regarding fixing USDN, Ivanov commented that “the most important thing is to make people whole eventually, let’s focus on that.” Alameda Research’s role in Waves’ struggles was also highlighted as he argued that people who are not focused on FUD “know that very well.”
The stablecoin will not be a new version of USDN with a new mechanic but an entirely new product according to the Waves CEO.
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Author 
Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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In this article
Waves is an open blockchain protocol and development toolset for Web 3.0 applications and decentralized solutions, aiming to raise security, reliability and speed of IT systems.
Sasha Ivanov is a Technology Entrepreneur and for the past decade, he’s been helping improve business, banking and public administration systems evolving electronic payment mechanisms.