News Formal

BitGo Introduces USDS Stablecoin, Aiming to Shift Market Dynamics

  • 📰 Crypto_Potato
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Crypto Blog

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 568. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: CoinDesk - 🏆 291. / 63 Read more »