MobileCoin Launches ‘Electronic Dollars’

Created By Jyotish

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

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

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.

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

Its foundation is a centralized government system.

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

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

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

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