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Glo Dollar news
About Glo Dollar
Glo is a nonprofit stablecoin whose msision is to end extreme poverty. Glo is fiat backed and pegged to the dollar. Like other stablecoins, Glo's reserves will be held in a mix of cash and short-term government bonds, specifically Treasury bills. When Glo earns interest on those T-bills, it will give away the proceeds to a nonprofit called GiveDirectly, which creates basic income for people in extreme poverty.
Over 700 million people live in extreme poverty, which is defined as living on less than $2.15 day. If T-bills earn their historical average return (3.37%), and Glo invests 80% of its reserves in T-bills, the Glo reserve will earn about 2.7% return on its market cap every year. A year's worth of basic income through GiveDirectly costs $480. Consequently, every $18,000 of Glo provides a basic income to one person in extreme poverty. If Glo becomes an $18 billion stablecoin, which would make it the third largest, that number rises to 1,000,000 people reached.
At 8-9% of all money, Glo could effectively end extreme poverty.
The live Glo Dollar price today is $0.999440 USD with a 24-hour trading volume of $48,206.11 USD. We update our USDGLO to USD price in real-time. Glo Dollar is up 0.08% in the last 24 hours. The current CoinMarketCap ranking is #4308, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
If you would like to know where to buy Glo Dollar at the current rate, the top cryptocurrency exchange for trading in Glo Dollar stock is currently Uniswap v3 (Celo). You can find others listed on our crypto exchanges page.