Canadian crypto ATM network Instacoin adds support for 7 stablecoins

Canadian crypto ATM network Instacoin adds support for 7 stablecoins

Instacoin, a Canadain cryptocurrency ATM operator, today announced that its users can now buy and sell stablecoins across its network.

The following seven new coins are now available at all Instacoin ATM locations across Canada: DAI (Multi-Collateral DAI), SAI (Single-Collateral DAI), Tether (USDT), USD Coin (USDC), Paxos Standard (PAX), TrueUSD (TUSD) and Gemini Dollar (GUSD).

“Instacoin will now have the most stablecoins available to buy and sell via ATM in the world. Since crypto prices can fluctuate 10–20% in a single day, fiat-pegged stablecoins are currently the most popular option in the marketplace and are typically pegged 1:1 to the US dollar. The demand for stablecoins is growing. As traditional financial institutions and world governments try to adapt to new technologies and cryptocurrencies vie for mainstream adoption, stablecoins offer an easy solution for the market.”
– Michael Lo Verso, president of Instacoin ATM

Stablecoins have the characteristics of crypto coins and the price stability of traditional financial assets, such as the US dollar, Euro or gold. Originally created to provide steadiness to the volatile world of cryptocurrency, stablecoins can help eliminate fears about conversion rates and make them more practical for buying goods and services.

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