Crypto firms including Robinhood, Kraken launch global stablecoin network [Yahoo! Finance]
Nuvei Corporation (NVEI)
Company Research
Source: Yahoo! Finance
The aim of the newly formed Global Dollar Network is to accelerate usage of stablecoins worldwide and promote an asset that provides proportionate economic benefits to its partners, the companies said. WHY IT'S IMPORTANT Stablecoins are digital tokens designed to keep a constant value. They are backed by traditional currencies such as the U.S. dollar or euro. As cryptocurrencies like bitcoin have rocketed in value this year thanks to forecasts for lower U.S. interest rates and the introduction of new crypto exchange-traded products, more companies have devoted resources to promoting stablecoins. Stablecoins are often used for converting crypto tokens into traditional currencies because they are shielded from the wild price fluctuations seen in other cryptocurrencies. CONTEXT The Global Dollar Network is based around a new stablecoin called USDG, which will be issued out of Singapore by crypto platform Paxos. The token will be governed by a committee made of representative
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NVEI
Sec Filings
- 11/15/24 - Form S-8
- 11/15/24 - Form S-8
- 11/15/24 - Form SC
- NVEI's page on the SEC website