Avalanche attracts governments and funds in Q3, but token lags 86% below peak
Institutions are tokenizing hundreds of millions in capital on the Avalanche blockchain, which is turning government and TradFi integrations “into onchain reality,” according to Nansen.
Avalanche is gaining ground as a preferred blockchain for governments and institutional investors, even as its native token continues to lag far below its all-time high.
During the past quarter, Wyoming’s Stable Token Commission issued the first government-backed stablecoin, the Frontier Stable Token (FRNT), on Avalanche and six other public blockchains, signaling a growing adoption of blockchain networks by governments.
FRNT launched as a fully collateralized stablecoin backed by US dollars and short-duration US Treasury bills with a mandated 102% reserve requirement, Cointelegraph reported in August.
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