Lambo Trader Launches Own Stablecoin
Elizabeth White is living the crypto dream - she transformed the “when Lambo” meme into a full-time job, facilitating deals for the Italian luxury car in exchange for cryptocurrencies in a matter of days. But now, the CEO of White Company is talking about launching their own cryptocurrency called “the White Standard”.
The coin, shortened to WS, built on the blockchain application Stellar, is a stablecoin backed by a US dollar, ensuring that the coins maintain a “real-world” value.
According to Business Insider, her finance partner Edgar Radjabli promises that the coin will eventually be tradeable on exchanges, and will be backed by his own hedge fund. “We want to build a coin that will let you instantly buy a cup of coffee or a Lambo with cryptocurrencies anywhere in the world,” he said. The coin does not seem to differ from Tether, for example, which is a cryptocurrency backed by the US dollar and striving to become the online version of the fiat currency.
No other details about the launch of the token were given.
How White got into the business? When she noticed the popularity of the Lambo meme in the cryptoverse, she said she thought to herself, “You know what, I can get these people a Lambo.”
Among the transactions she's handled are deals for Super Bowl suites, yachts, honeymoons, luxury fashion items, engagement rings, and art:
“There’s so much new wealth in the cryptocurrency community,” she told Business Insider. “Cars seem to be a big seller because it establishes you as a cryptocurrency holder.” She says they had a trade, from California to China, for a car worth USD 4 million, where the negotiation took less than a week and the settlement itself lasted around 30 minutes.