FOR IMMEDIATE RELEASE:
INDIANAPOLIS: Sarson Funds, Inc. announces the launch of two new stablecoins on the Bitcoin Cash (BCH) and Casper (CSPR) blockchains.
The asset-backed U.S. dollar stablecoins will hold exclusively US dollars as collateral which will be held with Custodia Bank. Sarson Funds seeks to take advantage of Custodia Bank’s transparency and trust, along with on-chain proof-of-reserve validation by Accountable, and on-chain KYC solution Blockpass, to create the most transparent and trusted stablecoins on the BCH and CSPR networks.
Sarson Funds is seeing both Bitcoin Cash and Casper Network grow their user base significantly and has identified increasing demand for stablecoins within those blockchain platforms.
“Over the past two years, it has become clear that stablecoins are a vital part of a blockchain’s ecosystem and that not all stablecoins are created equally. Assuming the eventual passage of the Responsible Financial Innovation Act, stablecoins will need to be collateral-backed and will need qualified banking partners. Modern stablecoins need to meet higher standards for compliance, proof-of-reserves and KYC.
The days of stablecoin issuers cutting corners and playing dumb are over.”
-John Sarson, CEO Sarson Funds
According to Sarson Funds, placing “pre-compliant” stablecoins on the Bitcoin Cash and Casper Networks will allow those communities to transact confidently knowing that emerging regulations will not interrupt transactions or turn off token availability for US-based customers. Sarson Funds has deep knowledge of the stablecoin marketplace having run a stablecoin portfolio since 2020 and has multiyear relationships with the development teams at Casper Network and Bitcoin Cash. This launch will be Sarson Fund’s first foray into issuing stablecoins, and they cite increasing demand in both ecosystems as the catalyst for the product launch. Learn more about the types of stablecoins here.
Key Partners:
Sarson Funds has selected Custodia Bank as its banking partner and only US dollars held at the bank will be accepted collateral for the issuance of bchUSDC and csprUSDC. Sarson Funds intends to maintain dollar-for-dollar redemption and creation requirements for users wishing to interact directly with the stablecoins. On-chain KYC firm, Blockpass, who specializes in offering Comprehensive KYC-as-a-Service for Regulated Industries has been selected to serve as the projects KYC and compliance coordinator. Proof-of-reserve audit partner Accountable, powered by Weavechain, will provide real-time accounting transparency to both networks. Sarson Funds, Inc. has existing business relationships with Custodia Bank, Blockpass, WeaveChain, Casper Association and multiple firms operating in the Bitcoin Cash ecosystem.
Anticipated Launch:
Anticipated launch of Bitcoin Cash stablecoin ticker symbol: bchUSD is March 1st, 2024 and Febuary 1st, 2024 for csprUSD on Casper Network.
“We are confident the rapidly growing economies of Casper Network (CSPR) and Smart Bitcoin Cash (BCH) will find immediate use for a collateralized transparent stablecoin native to their blockchain.”
-Zachary Profeta, Project Lead at Sarson Funds
About Sarson Funds:
Founded in 2017 and located in Indianapolis, Indiana, Sarson Funds, Inc. manages capital for accredited investors and provides institutional crypto market and web3 services. With Wall Street roots, Sarson Funds, Inc. has a reputation for regulatory compliance and investment excellence. Designed as an advisor to the advisor, Sarson Funds has focused on empowering Financial Professionals through education on cryptocurrency and blockchain, a mission which was recently handed off to the Boston-based American Crypto Academy in a January 2023 spinoff.
Press Contact:
Brittany Keels
COO Sarson Funds, Inc.
(317) 289-7481
Disclosures: Not investment advice. It should be assumed that Sarson Funds or its affiliated managers hold positions in all projects that are discussed. It is not possible to invest in any project directly through Sarson Funds, Inc. or its affiliated managers. Any investment product offered by managers affiliated with Sarson Funds should be assumed to be only available to Accredited Investors and subject to the individual terms and conditions of that offering including but not limited to those eligibility requirements associated with U.S. Securities Regulation D, section 506c. Talk with your financial advisor before making any investment decisions or have them contact Sarson Funds directly at [email protected].
