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USDD – The world’s first dollar-backed and interest-bearing stable coin, with interest payments every 24 hours, will be officially released on October 31st by 55 Global Markets. The USDD value is 100% supported by a US dollar reserve, funds are held in trust for the benefit of tokenholders by PrimeTrust (http://www.primetrust.com) as trustee, a third-party trust company that has relationships with major US banks. Cohen & Company (https://www.cohencpa.com), a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report in accordance with Statements on Standards for Attestation Engagements established by the American Institute of Certified Public Accountants. USDD supports highly efficient purchases and redemptions based on the 55 OTC market and DaoCoin infrastructure.
Investors are eager to find a transparent and efficient stable coin, as they expect not only to reduce the risk of market volatility, but also to obtain interest on the hedged investments and maximize the use of funds. Based on this demand, 55 Global Markets has used the DaoCoin infrastructure to issue a transparent and efficient interest-bearing stable coin, the USDD.
USDD has the following characteristics:
Automatic payment of interest every 24 hours
Once, every 24 hours, USDD interest is calculated and sent to the 55 wallet.
100% transparency with compliance supervision
The USDD value is 100% supported by a US dollar reserve. The funds are held in trust for the benefit of tokenholders by PrimeTrust (www.primetrust.com) as trustee, a third-party trust company that has relationships with major US banks. USDD is issued by the European licensee 55 Global Markets, which is strictly regulated.
Cohen & Company (www.cohencpa.com), a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report, to achieve third-party review of fixed assets. Truthful, effective and with 100% redemption reserves.
Real time disclosure
The official website, usdd.55.com will disclose the reserve fund’s balance and the number of tokens in circulation in real time. Users can check the balance of the USDD account, total interest, interest already distributed, etc. at any time; all information is 100% transparent.
Highly effecient purchase/ redemption
With 55 Global Markets, users can choose to quickly convert USDT to USDD with the one-button no-fee feature, or use the fiat currency to obtain or sell USDD from the 55 OTC market. The DaoCoin infrastructure also supports highly efficient redemption.
55 Global Markets measurement stable currency
The USDD will be used as a measurement stable coin for 55 Global Markets platforms’ transactions with all tokenized assets and cryptocurrencies (including but not limited to BTC, ETH, FF, etc.)
55 Global Markets is a next-generation asset trading platform driven by blockchain technology. It established 6 sub markets facilitating exchange of various forms of token. 55 Global Markets target of transactions is not limited to crypto assets like BTC or ETH, it also diverts to pools of traditionally meaningful and broader liquidity, such as real estate, private equity, foreign exchange, precious metals and even individuals’time.
Based on strength of cooperation with the partners, any third-party business organization or individual can tokenize their assets or interests in the physical world. They can then enter the 55 Global markets Blockchain Token Exchange (B -Site), Local Business Token Exchange (L-Site), Personal Token Exchange (P-Site), Forex Token Exchange (F-Site) , Stock Token Exchange (S-Site), Commodity Token Exchange (C-Site), conducting worldwide round-the-clock trading.
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The post PR: Debut of USDD – A Stable Coin That Pays You Interest appeared first on Bitcoin News.
Author: Bitcoin.com PR