Price-Stable Cryptocurrency Project ‘Basis’ Raises $133 Million in Funding

Basis, formerly Basecoin, has raised $133 million in a private placement, chief executive Nader Al-Naji revealed today. The Hoboken, N.J.-based project plans to create a stable cryptocurrency with an algorithmic central bank that will keep the price stable, something that has eluded cryptocurrency to date and limited its use as a reliable payment method. Funding
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