MobileCoin Launches ‘Electronic Dollars’

MobileCoin, a firm primarily focused on Cryptocurrency and Payments has launched a new Stablecoin.

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The company has brought this ‘Electronic Dollars’- in collaboration with stablecoin platform Reserve

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The MobileCoin firm states that eUSD is backed by a basket of other stablecoins, namely, USDC), USDP) and TrueUSD

It is specially made to safeguard users' confidential transactional data.

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End-to-end zero-knowledge encryption is believed to be used for each transaction's encryption.

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Its foundation is a centralized government system.

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The stablecoin's collateral is kept in Safe (formerly "Gnosis Safe"), a well-known Ethereum multisignature wallet.

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A "reserve-auditor" program is used by MobileCoin to carry out an auditing function.

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Although eUSD uses end-to-end zero-knowledge proof encryption to protect the privacy of transactions,

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All on and off-ramps of cryptocurrency are the subjects of KYC and AML requirements.,

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