The Djed stablecoin would soon be available on Ethereum, Binance Smart Chain (BSC,) and others.

COTI CEO Shahaf Bar Geffen said COTI had always planned for Djed to branch out from Cardano into other blockchains, but recent stablecoin turbulence has accelerated the move.

Bar Geffen said amid the stablecoin turmoil, Djed did not lose its peg. He attributed the token’s stability to being decentralized, over-collateralized, and verifiable – as collateral is viewable on-chain.

This outcome set off a high demand for Djed, with Bar Geffen reporting record volume on dexes. He also mentioned that non-Cardano protocols had requested that Djed go multichain.