1 day ago
17
The NEAR Foundation has confirmed a strategic alliance aimed at redefining how individuals exchange stablecoins and top digital assets across blockchains.
The platform is joining forces with Everclear, a recognized protocol for cross-chain settlements.
The move comes as stablecoin sees an uptick in demand after the US signed the GENIUS Act into law last week.
Meanwhile, NEAR’s latest collaboration is more than shared goals.
The deal includes Near Protocol making a significant investment in Everclear to boost operations in response to the increasing demand for reliable multi-chain liquidity.
Stablecoins have witnessed remarkable growth over the past few sessions, with their market capitalization soaring steadily past $260 billion (Coinmarketcap data).
That has boosted demand for clearing markets, which the NEAR Foundation believes would grow into a massive industry in the coming years.
The team stated:
As the clearing market for digital assets grows to a trillion-dollar industry, Everclear’s adoption of NEAR’s tech will be key to solving liquidity fragmentation across chains.
The NEAR ecosystem is excited for this strategic partnership with Everclear (@EverclearOrg)! As the clearing market for digital assets grows to a trillion dollar industry, Everclear’s adoption of NEAR’s tech will be key to solving liquidity fragmentation across chains 🤝
Streamlining cross-chain transactions
If you have ever transferred coins or stablecoins across different blockchains, you may know how clunky and fragmented the process feels at times.
Swap fees, manual rebalancing, bridges, and potential human error often dent the user experience.
That’s what NEAR Foundation and Everclear promise to solve.
Everclear will leverage Near’s Chain Abstraction stack and Intents ecosystem to access tools needed for seamless cross-chain liquidity management.
The platform can automatically rebalance massive transactions up to $5M without manual transactions or centralized exchanges (CEXs).
Moreover, users will enjoy near-zero costs.
Illia Polosukhin, NEAR co-founder, added that the objective is to ensure AI agents and humans can seamlessly access liquidity, regardless of where the stablecoin lives or the minting chain.
Polosukhin said:
Unifying liquidity for both human and AI users is a key mission for NEAR and the Intents ecosystem. We’re happy that Everclear will utilize NEAR Intents for cross-chain clearing and settlement amid the proliferation of stablecoins, chains, and new asset types in the market today – we see a great opportunity in our work together.
Notably, Everclear leverages netting and clearing to ensure an efficient financial system.
Instead of moving each transaction one by one, its systems explore the difference between them and only transfer what is necessary.
For context, if you owe a friend $100 and he owes you $90, Everclear only clears the net difference ($10) rather than sending $90 and $100 separately.
Everclear CEO Dima Khanarin trusts the cross-chain clearing market for cryptocurrencies will skyrocket above $1 trillion amid intensifying demand for stablecoins.
According to Dima Khanarin:
Partnering with the NEAR Foundation enables Everclear to scale liquidity in the system and target billions in monthly volume over the next 12 months. With hundreds of stablecoins and new appchains like Robinhood launching, the cross-chain clearing market for digital assets is poised to surpass $1 trillion.
NEAR price outlook
Near’s native coins displayed bearishness today.
It has lost more than 6% in the past 24 hours to hover at $2.79.
The declining daily trading volume signals weakness, positioning NEAR for further dips.
Chart by CoinmarketcapThe downside comes amid broad market declines as profit-booking prevails following the latest rallies.
Nevertheless, Near Protocol dominates the L1 sector and remains poised for impressive growth in the coming weeks and months.
The post NEAR Protocol partners with Everclear to transform cross-chain stablecoin settlement appeared first on Invezz
English (US) ·