BitGo to Enter Stablecoin Market

BitGo, a prominent digital asset custodian, has announced its plans to launch a new stablecoin called USDS in January 2025. This stablecoin will be unique in offering rewards to institutions that provide liquidity to the network. Unlike other stablecoins, USDS aims to create a more open and fair system that promotes innovation and rewards those who build the network. Backed by short-duration Treasury bills, overnight repos, and cash, USDS will join a market dominated by Tether’s USDT and Circle’s USDC. BitGo’s approach could redefine financial freedom and liquidity in the stablecoin market.

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