Just-In: BitGo To Launch USDS Stablecoin, Offering Rewards For Liquidity

Quick Summary:

BitGo is set to launch the USDS Stablecoin, a new financial instrument designed to enhance liquidity in the stablecoin market by rewarding institutions that contribute to its ecosystem.

This innovative approach aims to set USDS apart in a highly competitive sector currently dominated by giants such as Tether and Circle.

Unlike traditional stablecoins, USDS will be backed by a mix of short-duration Treasury bills, overnight repos, and cash.

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Article Details

Author / Journalist: Ronny Mugendi

Category: Crypto

Markets: IndiaSingapore

Topics: Stablecoin News Stablecoin 24/7 Cryptocurrency News Bitgo

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-18 @ 07:04:14 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 441 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22574944

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 24 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #59

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