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BitGo Introduces USDS Stablecoin, Aiming to Shift Market Dynamics

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Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025.

That approach will reportedly allow as much as 98% of earnings generated from USDS’s reserves to go to its network participants, including liquidity providers and institutional exchanges. Traditionally, stablecoin returns have mostly gone to issuers or a limited group of stakeholders. In addition, third-party accounting firms will audit the reserves every month, a move the company hopes will bolster confidence in the stablecoin’s security.

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BitGo to Enter Stablecoin Market With Reward-Bearing USDS CoinBitGo says USDS is an 'open participation' stablecoin that provides rewards to institutions for providing liquidity to the ecosystem.
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