Chia Network, a blockchain platform founded by BitTorrent creator Bram Cohen, launched its peer-to-peer (P2P) trading service named Offers for Chia Wallet holders. Through the P2P trading service, Chia Wallet users will be able to participate in cryptocurrency trading without having to send their assets to exchanges.
The company said that the service takes no fees for any two users to process trades with security. The trade can also be protected from counterparty risks or the necessity for middlemen.
Chia President and COO Gene Hoffman stated that to establish easier and safer peer-to-peer transactions, Chia is meeting vital security and compliance needs.
Launching Offers is the first step in delivering on those needs, and our partnership with Stably to provide US dollar-pegged stablecoins and wrapped cryptocurrencies is integral to the process.
The company also said that it is ready to partner with stablecoin solutions provider Stably to introduce the first dollar-denominated stablecoin on its blockchain network. This move is to support the products or offers in the company.
Stably will also introduce wrapped ether (wETH) and wrapped bitcoin (wBTC) in the Chia blockchain. Chia Network also has the mission of reducing the energy dependency of the public blockchain. Last year, the network raised $61 million in a Series D funding round at a $500 million valuation.