tl;dr
BitGo is set to launch the USDS Stablecoin in January 2025, aiming to enhance liquidity in the stablecoin market and offer rewards to institutions. The stablecoin will be backed by Treasury bills, repos, and cash, ensuring stability and trust. BitGo's USDS aims to expand the stablecoin market by rew...
BitGo is set to launch the USDS Stablecoin in January 2025, aiming to enhance liquidity in the stablecoin market and offer rewards to institutions. The stablecoin will be backed by Treasury bills, repos, and cash, ensuring stability and trust. BitGo's USDS aims to expand the stablecoin market by rewarding liquidity providers. The reward system will distribute returns generated from the underlying assets among participants and avoid regulatory pitfalls. BitGo is taking a cautious approach to compliance and aims to list USDS on major exchanges with robust regulatory backing.
BitGo's CEO, Mike Belshe, highlighted that current stablecoins serve necessary functions but there is room for innovation. USDS aims to offer a more inclusive and equitable model that supports the existing financial ecosystem and rewards those who help sustain liquidity. The core feature of the USDS offering is its reward system, which aims to incentivize institutions by sharing the returns generated from the stablecoin's reserves.
BitGo is taking a cautious approach to compliance, aiming to list USDS on all major exchanges with robust regulatory backing. By targeting $10 billion in assets within a year of launch, the crypto company is setting a new standard for transparency and engagement.
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More about C3 Ai Inc
Stock Summary: C3 Ai Inc (C3)
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: $2,957,328,000
Dividend Yield: None
EPS: -2.28
P/E Ratio: 2.674
ROE: -0.855
Volume: 325,433,000
Stock Price: $25.11
52-Week Range: $0 - $0.205