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BitGo, a leader in crypto custody, is planning to enter the stablecoin market with a new offering called USDS. This new age offering by BitGo is set for release in January 2025. USDS aims to be different by providing rewards to institutions that contribute to its liquidity. The BitGo team made this announcement at the Token 2049 conference in Singapore.Assets like short-duration Treasury bills, overnight repos, and cash will back the USDS. It is designed to be an open-participation stablecoin that will help promote crypto and its network.CEO’s ThoughtsAccording to <a href="https://cryptotale.org/?s&#61;Bitgo" rel="noopener noreferrer nofollow">BitGo</a> CEO Mike Belshe, their primary goal with USDS is to offer an open and fair system compared to existing stablecoins. The existing stablecoins market is largely dominated by <a href="https://cryptotale.org/?s&#61;Tether" rel="noopener noreferrer nofollow">Tether</a>&#39;s USDT and Circle&#39;s USDC.The innovative aspect of USDS lies in its rewards system. Users who help provide liquidity to the USDS network will receive a share of the returns generated from the stablecoin’s reserves. Belshe stated that,At the end of each month, we generate some return from the cash held in the underlying fund, and we will distribute it back to the participants based on their custody of the asset.<a href="https://cryptotale.org/bitgo-set-to-launch-reward-bearing-usds-stablecoin-in-2025/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

BitGo Set to Launch Reward-Bearing USDS Stablecoin in 2025

CryptoTale

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