Overview:
The global dollar (USDG), a recently launched stablecoin, aims to form a sizable consortium by attracting thousands of partner firms motivated by the token’s yield potential. As noted by Kraken, a foundational partner, USDG offers financial rewards to organizations that endorse and propagate the use of the stablecoin.
Key Points:
- USDG is designed to operate as a decentralized consortium with limitless membership prospects.
- Members actively promote the token and partake in the interest gathered on its reserves.
- Kraken utilizes USDG for global financial transactions and provides users with yields of up to 4.1% on their holdings.
Recent Developments:
In its infancy, this stablecoin has garnered significant interest. Kraken declared that it anticipates welcoming a multitude of firms, including traditional finance entities, as members.
Mark Greenberg, Kraken’s consumer business lead, expressed enthusiasm about the expanding network. “There are over 25 partners now, and I hope in a month, we can announce another group of partners,” said Greenberg, who indicated that notable traditional finance institutions are exploring participation.
Greenberg highlighted how USDG challenges the market dominion held by leading stablecoins, emphasizing its unique decentralization model, and pointed out that partnering firms’’ profits can be returned to the community.
Kraken’s clients can now benefit from the opportunity to earn substantial yields through USDG, especially advantageous for markets lacking traditional U.S. dollar investment avenues. For instance: In regions like Argentina or Canada, earning 4.1% interest is an extraordinary prospect.
