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02/10/19 05:49 UTC-4

The US launches a new cryptocurrency pegged to the dollar

CryptocurrencyUSDD – a new cryptocurrency pegged to the US dollar
USDD – a new cryptocurrency pegged to the US dollar

Global Currency Organization (GCO), a global currency organization founded by people from JPMorgan, Intel, and TrustToken, announced the launch of the USD Digital (USDD) tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
, which is supported by US dollars. 

New stablecoin

USDD is an ERC-20 token built on Ethereum, which is fully supported by US dollars, which is guaranteed by the Cohen & Co. trust company. Users can register on the Global Currency Organization website, send money from a bank account and receive USDD. The revenue sharing model is designed to accelerate coin adoption. The company intends to share part of its operating income with its network of partners, which will include financial institutions, exchanges and applications. Cryptocurrency is focused on institutional clients, seeking to fill the gap between traditional and decentralized financing, while providing benefits to the end user.

GCO CEO Joe Vellanikaran – commented

“We are pleased to have issued USDD and opened our network for institutional partners around the world.”

In addition, the CEO of GCO emphasizes the benefits of the technology, explaining,

"For example, you are a Japanese student living in the USA and want to send some amount to your parents. To do this, you need to open a bank account in the United States or use the services of third-party companies that will transfer money long and expensive. With our stablecoin, the whole procedure will take a minimum amount of time."

Interesting in the section: BlockchainUA 2019: Experts' view on cryptocurrency development

See also: "BayernLB Bank analysts predict the growth of Bitcoin to $90,000"

#GCO #USDD #Ethereum #cryptocurrency #exchanges #finance #trading #USA #dollar #stablecoin

Editor: Alyona Deryabina
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