American banks created a new cryptocurrency and completed the first transaction

A week ago, five American banks created a consortium with the aim of issuing a new cryptocurrency, the USDF stablecoin. The day before, they completed the first transaction with a new coin.

The consortium was created by five American banks (New York Community Bank, NBH Bank, FirstBank, Sterling National Bank and Synovus Bank) with the support of Figure Technologies and JAM FINTOP. The stablecoin is pegged to the US national currency at a ratio of 1:1, i.e. USDF value is $1.

The asset is built on the Provenance public blockchain, which was developed by the Provenance Blockchain Foundation for the financial services industry. The first USDF stable digital coin was issued by NBH Bank. The recipient was a New York Community Bank client.

A source: CoinDesk