Global Currency Organization Launches New Stablecoin - USDD
The Global Currency Organization (GCO) - an outfit founded by JP Morgan alumni, Intel, and TrustToken, has launched a new stablecoin christened USD Digital (USDD).
In a press release shared by a media outlet, the organization intends to make USDD the first stablecoin that will share its revenue from various operations with participating parties, such as wallet companies, exchanges, and OTC desks.
In what may seem like stiff competition for Tether (USDT), which is currently the market leader, many stablecoins are coming up especially in the past year. With the launch of USDD, the already competitive pool for stablecoins looks even more crowded.
Commenting about the launch, GCO CEO Joe Vellanikaran said:
“We are excited to introduce a stablecoin that is providing an institutional-grade digital currency to everyday traders…We set out to make the benefits of blockchain available to all, a vision that is bigger than any one company. We are thrilled to be releasing USDD and opening up the GCO network to institutional partners worldwide.”