The New York digital dollar DUSD is pegged to the U.S. dollar 1:1, committed to maintaining currency attributes and ensuring the stability of the stable currency redemption value. DUSD is a stable currency based on the ERC-20 protocol, and its proof of reserves will be audited regularly to prove that the tokens it issues are fully backed by U.S. dollars.
U.S. dollars can be converted into DUSD tokens through the Singapore WBF exchange, and then transferred to investors' Ethereum wallets. The reverse transaction is also possible: if a user deposits DUSD tokens into an Ethereum wallet for exchange, they can convert them back to USD on the exchange.
USD funds equivalent to the number of issued tokens will be deposited in various banks around the world and in the United States (FDIC deposit eligible, but applicable restrictions apply). In addition, the USD deposit balance will be audited by an independent certified public accounting firm to ensure a 1:1 peg to the USD.

1. Project introduction

By striving to maintain monetary accountability and guarantee the stability of redemption values, we have developed a digital stablecoin, DUSD, which will be based on the ERC -20 protocol and will undergo regular audits of its proof of reserve to certify issuance tokens are fully backed by the U.S. dollar.

2. Advantages and uses of the project

Catalyst
Stablecoins are better stores of value and units of account due to their little price volatility. Because compliant stablecoins can be used to purchase other digital currencies, it can encourage more people to participate in the crypto world.
Speed ​​and Convenience
Digital currencies can be traded 24/7, while fiat currencies are subject to working hours.
​Promoting adoption
If stablecoins were equivalent to the dollar, it would be possible to buy a cup of coffee with it around the corner. This means retail customers will adopt them and the digital currency space is likely to experience exponential growth.
Risk Hedging
If investors believe that the price of digital currency assets will decrease in the future, they can buy stablecoins. This is often a quick way to enter or exit highly volatile assets.

Third, the service object of the project

Blockchain was developed to enable a cryptographically verified global record of transactions on a decentralized platform. Digital tokens backed by fiat cash provide individuals and organizations with a powerful and decentralized transaction strategy.
However, adoption of cryptocurrencies in mainstream society has been relatively slow due to extreme price volatility and lack of understanding of the field by end users/consumers.
A stablecoin is a digital currency designed to solve the above problems and minimize price volatility. To do this, stablecoins would be pegged to real assets such as fiat currencies, commodities (such as precious metals or even oil prices) and even other cryptocurrencies (such as bitcoin and ether).
Our target area will be Asia. Investors in Asia are early adopters of cryptocurrencies, especially the Japanese, Korean and Chinese markets. We are not serving regions outside of Asia at this time.