FDIC-rypto? IBM, Stronghold to Launch First Insured Stablecoin30.7

IBM has partnered with fintech startup Stronghold to launch a stablecoin pegged to the US Dollar. The cryptocurrency will be tied to government-backed fiat deposited at banks covered by the Federal Deposit Insurance Corp (FDIC).

A fintech startup called Stronghold is launching a new cryptocurrency pegged to the US Dollar, reports CNBC. “Stronghold USD”, as the new cryptocurrency is called, will be backed one-for-one with US Dollars which are held by blockchain-focused asset management company Prime Trust. The charted firm will deposit the money at banks which are insured by the FDIC.

Original source

Add comment

Please Sign in to be able to leave comments.