CandleFocus BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin
2024-09-18
Author: Content Editor
BitGo, a digital asset custodian, has announced plans to launch a stablecoin called USDS in January 2025. Unlike other stablecoins in the market, USDS will offer rewards to institutions that provide liquidity to the network. The stablecoin will be backed by short-duration Treasury bills, overnight repos, and cash. BitGo hopes that by offering rewards to liquidity providers, it can create a more open and fair system that promotes innovation. The company plans to list USDS on major exchanges and aims to have $10 billion in assets held within the stablecoin by next year.
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