Simplex & Ava Labs Develop High-Speed Stablecoin System for Financial Services

A collaborative project between Simplex Corporation, a fintech firm based in Tokyo, and Ava Labs, the creators of the Avalanche blockchain, has successfully tested a new stablecoin system that aims to enhance financial service availability and reduce latency. Their proof of concept (PoC) combined Simplex’s Stablecoin System with Ava Labs’ blockchain service, AvaCloud and AvalancheL1, creating a fast and reliable platform for financial services applications.