As far back as fears emerged around Tether (USDT), it appears like another stablecoin is discharged each week to attempt and have its spot. Today two new stablecoins have been uncovered, with the qualification of being endorsed by the budgetary controller known for the New York Bitlicense.
The New York State Department of Financial Services (DFS) has reported today that it approved Gemini Trust and Paxos Trust to each offer its own stablecoin pegged to the US dollar. Both the Gemini Dollar (GUSD) and the Paxos Standard (PAX) are said to be ERC20 tokens upheld balanced by fiat US dollars held at US-found and FDIC-protected banks.
DFS Superintendent Maria T. Vullo said:
"As the financial technology marketplace continues to evolve, New York is committed to fostering innovation while ensuring responsible growth. These approvals demonstrate that companies can create change and strong standards of compliance within a strong state regulatory framework that safeguards regulated entities and protects consumers.โ
You also get more information about this article here:
https://news.bitcoin.com/new-york-regulator-approves-two-new-stablecoins-gemini-dollar-and-paxos-standard/
Source
Copying/Pasting full or partial texts and then spinning them without adding anything original is frowned upon by the community. Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
Very gorgeous work!
Thanks for your compliment
I upvoted on ur post
Great new shared by u keep us updated
You got a 6.95% upvote from @upmewhale courtesy of @ajsharma333!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by ajsharma333 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.