Digital USD (“DUSD”) registered in New York City, NY, DUSD is a dollar pegged stable coin and plans to serve a worldwide client base. DUSD will be regulated stable coin with the oversight of U.S. regulators. With superior management style and an advanced product research & development team, DUSD will solve challenges and problems the last generation of stable coins had encountered.
Asian people are early cryptocurrency adopters. Just last week, DU$D introduced its presence in the Philippines. The launch was held in Conrad Manila, attended by Fintech individuals very eager to hear what they have to offer.
DU$D aims to foster a new financial future in the digital world, one that is more resilient to central points of fraud, failure, and greed. One that empowers people with new levels of access to capital, investments, and financial opportunities. One that democratizes digital financial world and unlock capital through the trusted trade of assets worldwide. DU$D was registered in New York, and was launched just recently, around November last year.
Transparent, Stable and Focus. That’s Stablecoins
The development of blockchains enables cryptographically verified worldwide record for transactions on decentralized platforms. A digital token supported by fiat cash gives people and associations a powerful and decentralized strategy for trading while utilizing a well know unit of account.
However, the adoption of cryptocurrencies in the mainstream has been rather slow because of extreme price volatility and lack of domain understanding by end user/consumer.
Stable coins are digital currencies designed to address the above issues as well as minimize price volatility. To do this, a stable coin is pegged (linked) to real assets such as fiat currencies, commodities (such as precious metals or even the price of oil) or even other cryptocurrencies (such as Bitcoin and Ether).
With a bank-level KYC verifiction, DU$D is committed to maintain its price stability and transparency. DU$D aims to become a fundamental part of the future of cryptocurrency market, and transfom real-world assets on blockchain.
Supported by artificial intelligence, DU$D will be an Ethereum-based stablecoin that is stabilized and scalable. In addition, DU$D will also apply the ObeliskToken algorithm to ensure its security and scalability.
The Characteristics of DU$D:
Open to Audit: (we will be partnering with one of the Big Four firms in the United States)
Transparent:(our reserves will back every DU$D token issued)
Scalable:(pegging to the USD and tieing up with the major exchanges in Asia, Europe and America for transactions helps us scale)
Accessible:(DU$D wants anyone with US dollars to have the ability to generate a DU$D stablecoin and access the cryptocurrency market)
US dollars can be converted into DU$D tokens via the WBF exchange, and then trsnsferred to an investors Ethereum wallet. The inverse transaction holds true as well: if users deposit their DU$D tokens into their wallet for redemption, they can be converted back to USD.
By pegging itself to the USD at ratio of 1:1, DU$D essentially is an asset backed stable token (tokenized asset) and is based on the IOU model. The DU$D token is based on the Ethereum platform.
The first target is Asia. Followed by expansion into Europe and the Americas. Asian investors hold the most promised for technical adoption. Cryptocurrencies have always had a cult following from Asia, especially in China, Japan, and South Korea.See why Asia is the number one target of crypto market.