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  • The Global Currency Organization (GCO) has released USD Digital Stablecoin (USDD).
  • It will be based on Ethereum and will be aimed to be leveraged by institutions, exchanges, traders, and OTC desks.

 

A new US dollar-backed stablecoin, USD Digital (USDD), has been released by the Global Currency Organization (GCO). The stablecoin is based on Ethereum and is aimed to be leveraged by; institutions, exchanges, traders, and OTC desks.

The Global Currency Organization (GCO) is a new project which was put together by former employees of TrustToken, JPMorgan and Intel. According to the GCO team, the organization has been founded ‘to focus on bridging the gap between traditional and decentralized finance.’  

An announcement from the GCO detailed:

GCO intends to share its revenues* with participating exchanges, wallet companies, and OTC desks. By opening up the stablecoin model to a global network of partners, GCO is focused on providing end users with more gateways to move between fiat and cryptocurrencies around the world.