Charles Hoskinson (IOG's CEO, founder of Cardano and co-founder of Ethereum) said in one of his youtube product updates that IOG is planning to build an ERC20 converter. Charles Hoskinson is well known for his surprise AMAs (As Me Anything) sessions on youtube in which the founder of Cardano very enthusiastically provides candid responses to the community asked questions.

In one of the product updates streamed live in youtube Cardano's founder said that IOG is looking to build an ERC20 converter. The software will help ERC20 projects to easily migrate to the Cardano blockchain. As projects in Ethereum are right now struggling in terms of scalability in the layer one of Ethereum and are looking for layer two options to scale this comes as a very welcome news. It is worthwhile noting that Cardano is still to release their smart contract functionality. The Goguen update planned during the end of Q4 of 2020 will bring the smart contract functionality in Cardano.

The news of ERC20 convertor was well received within the Cardano community and the community is confident that this will bring in a lot of ERC20 projects into the Cardano ecosystem.