Soteria To Launch Bitcoin-Backed, USD-Pegged Stablecoin
Soteria has announced the forthcoming launch of USDS, a USD-pegged stablecoin that is 100 percent backed by bitcoin, meaning that users can issue or redeem it in exchange for BTC. Testing of the product has concluded and Soteria expects to launch it in the near future. Stablecoins are digital currencies built to retain stable value, usually be pegging them to a fiat currency, collatorizing them with other cryptocurrencies or algorithmically balancing their circulating supplies. Soteria envisions USDS as solving inherent problems with each of these approaches. “Fiat-backed stablecoins....
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