The USDF consortium, a membership-based group of banks, is launching a bank-minted stablecoin, also called USDF.
A group of U.S.-based banks is launching their own stablecoin, USDF. The stablecoin will be issued by the USDF Consortium, which will allow its members to issue USDF. The proposed stablecoin will be the first currency of its kind to be minted by FDIC-insured institutions and compliant with the recommendations on the use of stablecoins made by the president’s working group.The USDF consortium, a membership-based group of banks, is launching the first bank-minted stablecoin, also called USDF.
issued on January 12, the objective behind this release is to remove friction by addressing “the consumer protection and regulatory concerns of non-bank issued stablecoins and offer a more secure option for transacting on blockchain.”The USDF consortium is the entity that will authorize these banks to mint the stablecoin, which will be redeemable 1:1 in cash from any of the banks of the aforementioned consortium.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Banks Form Consortium to Mint USDF StablecoinsA number of American banks have formed a group in order to offer their own fully regulated stablecoin in an effort to address consumer protection and regulatory concerns regarding nonbank-issued stablecoins.
Read more »
U.S. Banks Form Consortium to Mint USDF StablecoinsA number of American banks have formed a group in order to offer their own fully regulated stablecoin in an effort to address consumer protection and regulatory concerns regarding nonbank-issued stablecoins.
Read more »
German Online Bank N26 to Launch Cryptocurrency Trading Business This Year – Bitcoin NewsN26, a German online bank, has announced it will roll out cryptocurrency trading services for customers this year.
Read more »
Revolut Launches Banking Services in Spain Featuring Deposit Insurance – Fintech Bitcoin NewsRevolut, one of the biggest fintech neobanks in Europe, has received a special banking license in Spain, and can now offer deposit insurance to its customers.
Read more »
Bitcoin Mining Firm Luxor Launches ASIC Trading Desk – Mining Bitcoin NewsOn January 11, 2022, the Washington-based bitcoin mining operation Luxor announced the launch of an ASIC bitcoin miner trading desk.
Read more »
Strike Arrives in Argentina With USDT Support, No Bitcoin Integration Yet – Bitcoin NewsStrike, the popular bitcoin-based wallet, has launched in Argentina, bringing a new way for Argentinians to store their savings in stablecoins.
Read more »