Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries

Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries

The Verified USD Foundation has launched a new stablecoin, Verified USD (USDV), which is distinctively backed by tokenized US Treasury Bills (T-bills). This development marks a significant step in the cryptocurrency space, offering a stablecoin that combines the security of T-bills with the efficiency of blockchain technology.

USDV: A Blend of Stability and Innovation

USDV operates as an omnichain stablecoin compatible with the ERC-20 standard, and its value is directly linked to the US dollar. The stablecoin’s reserve comprises tokenized real-world assets (RWA), primarily T-bills, which provide a stable value and enable real-time verification through proof-of-reserve. This approach aims to bridge the information gap between the stablecoin issuer, its minters, and holders.

Collaboration with Industry Leaders

To facilitate its operations, the Verified USD Foundation has partnered with several established industry players, including Bitget, Curve, Matrixport, and Stargate. Matrixport’s Short-term Treasury Bill Token (STBT) has been selected as the initial reserve asset for USDV. STBT is an ERC-1400 standard token, pegged to the net-asset value (NAV) of short-term T-bills and Repos secured by T-bills.

Regulatory Compliance and Security Focus

USDV’s smart contracts are open-sourced and have undergone extensive security audits by third-party firms like OtterSec,, and Paladin, ensuring robustness and reliability. The stablecoin is also designed to meet the transparency and security expectations of institutional clients.

Innovative Reward Distribution: ColorTrace Algorithm

The Foundation is implementing the ColorTrace algorithm, developed by LayerZero, for fair and transparent reward distribution among verified minters. This algorithm addresses the challenge of value attribution in fungible tokens, promoting equitable distribution across contributors.

Omnichain Integration and Community Support

USDV is integrated with LayerZero’s Omnichain Fungible Tokens (OFT) Standard, facilitating its operation across multiple blockchain networks. Initially, USDV will be available on Ethereum, BNB Smartchain, Avalanche, Arbitrum, and Optimism blockchains, with plans to expand further.

At launch, USDV has garnered support from 23 industry-leading entities across CeFi, DeFi, and GameFi sectors, including prominent names like Bitget Exchange, Curve Finance, and Stargate Finance. These partnerships are geared toward creating a dynamic and diverse digital asset ecosystem.

About the Verified USD Foundation

The Foundation is committed to fostering a stablecoin ecosystem that is equitable and transparent, focusing on on-chain and off-chain transactions within the Web3 space. It operates with a high standard of transparency and fiduciary duty, prioritizing the interests of USDV holders. The Foundation’s mandate includes governance, strategic visioning, and enhancing the utility and adoption of USDV across various blockchain platforms.

This launch signifies a major evolution in the stablecoin market, offering a new option for investors and participants in the cryptocurrency space, backed by the security and stability of tokenized US government assets.

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