GuShiio.com According to Bloomberg, Tether co-founder Reeve Collins is backing a new stablecoin project that plans to compete with Tether and will be launched on the Ethereum and Solana blockchain later this year. The project will create stablecoins through smart contracts, with asset backing including real-life assets with yields such as bonds. Unlike Tether making profits through investment reserves, the new project will allocate profits to participants promoting stablecoins and launch governance tokens, where token holders can participate in platform decisions and share platform revenue.
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