[ACCESSWIRE]
NEW YORK, NY / ACCESSWIRE / November 20, 2018 / Stablecoins present a solution for the future payment market of cryptocurrencies. However, the recent turmoil and scandals of major stablecoin issuers have caused investors to lose confidence and trust. Problems such as lack of transparency, overissuance, and flawed smart contracts have triggered multiple panic sales in recent days. Major stablecoins with faulty business models and reoccurring sanctions have led investors to a rude awakening when their assets have been frozen or trapped.
Today, USDO presents new hope for the stablecoin market. USDO is a U.S. dollar-pegged stablecoin supported by international commercial banks. The value of each USDO is pegged 1:1 to the US dollar, fully backed by the equivalent fiat currency deposit secured in commercial banks. It is characterized as being tamper-resistant, unforgeable, and fully traceable with published audit reports and redemption processing times of 1 to 3 business days. USDO takes on the challenge of shifting the industry by bringing efficiency, security, and transparency to the stablecoin market.
Stablecoins are pegged 1:1 to fiat currency for the purpose of stability and provide an easy solution for cryptocurrency trade as mediums of exchange. As a standard for fiat-pegged digital assets, stablecoins must have a corresponding and equivalent deposit in the issuer's bank. Current stablecoin leaders have had major bank contracts terminated and claims of inaccurate and inconclusive reports by Bloomberg. Investors have begun to question whether their holdings in these faulty industry giants are truly secured.
Secure and reliable stablecoins must have the following key characteristics:
- A mainstream fiat currency collateral base;
- Regular audit reports as proof of equivalent bank reserves;
- Rapid purchase and redemption functions with excellent customer service;
- Verified internationally on the public blockchain;
USDO aims to redefine the stablecoin industry through its direct cooperation with commercial banks. There is a fundamental difference between working directly with licensed international commercial banks and working with escrow accounts or third-party entities. Commercial banks are regulated by government agencies. Through its direct affiliation with commercial banks, USDO offers the highest level of supervision and protection for their customers. The co-founder and CEO of USDO, Dr. Jin Han, is an expert with more than a decade of experience in industrial and information security solutions. As the former Head of Product Safety and Security at Twitter, he led a team overseeing the security of over 1 billion user accounts. With its experienced leadership and direct affiliations with recognized financial institutions, USDO strives for the gold standard in security.
USDO also publishes audit reports regularly on legal bank deposits to verify its 1:1 anchor to the U.S. dollar. With 24/7 customer service support, users may purchase USDO within seconds and redeem USD in as fast as 1 business day. These key features create a unique, safe and convenient experience for customers, which the current industry leaders cannot rival.
At least 15 new stablecoins have emerged since September 2018. Much like trends, the emergence of new stablecoins have become increasingly popular, each offering its own unique function. However, this trend has given way to a lot of faulty stablecoins full of scams, lack of security and hidden agendas that investors must be cautious of.
USDO, on the other hand, has an all-star engineering and product team from top tech companies in Silicon Valley, with degrees from top universities such as Stanford, Berkeley, and USC. As the only stablecoin that is supported by international commercial banks, USDO has only 1-3 business days USD redemption times and 1-minute deposit/withdraw functions. USDO is truly the ULTIMATE stablecoin.
USDO aims to be the next generation of payment systems. Its team is committed to becoming the ultimate platform, exchanging crypto to fiat with ease and increasing liquidity for cryptocurrencies. USDO strives to become the industry standard for U.S. dollars on the blockchain.
As the demand for blockchain-based financial products increases, so does the need for a universal stablecoin. The industry calls for a stablecoin that serves as a medium for transactions, store of value and can be adopted by the masses. This all in one approach will inspire new competition and attract higher quality projects to the stablecoin market.
USDO will take the crown as a stablecoin capable of exceeding expectations and the needs of the blockchain industry with backing from regulated financial institutions. USDO will meet the demand for rapid payment systems worldwide legally, safely, and efficiently.
Website: USDO.com
SOURCE: USDO
