Bermuda Digital Bank Jewel Issues ‘Fully-Backed’ Stablecoin

Jewel USD (JUSD), a fully backed stablecoin accessible over the Polygon network, is being released by Bermuda-based Jewel Bank on Monday. Jewel Bank leverages the Polygon ecosystem for stablecoin-based payment solutions backed by bank deposits.https://t.co/xHiKzxVazn — 💎 Jewel Bank (@JewelBermuda) December 12, 2022 Digital Bank Jewel to Issue Fully-Backed Stablecoin According to a news release from Jewel, JUSD will constantly have enough money in its reserves to sustain each JUSD in operation by maintaining a reserve ratio with the U.S. dollar at least 1:1. In addition, the bank stated it would regularly check its stablecoin reserves and update them on The post Bermuda Digital Bank Jewel Issues ‘Fully-Backed’ Stablecoin appeared first on Cryptoknowmics-Crypto News and Media Platform .