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Glo Foundation
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Glo Dollar (USDGLO) is a dollar-backed stablecoin marketed by the Glo Foundation, a Public Benefits Corporation in the US. USDGLO is issued by Brale Inc., a tech company offering Stablecoins-as-a-Service. Brale Inc. offers its products under various U.S State’ Money Transmitter licenses.
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Yield generated from USDGLO reserves are used to fund public goods.
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The reserves comprise US Treasury debt and cash deposits in fully segregated accounts, but these are unlikely to be bankruptcy-remote.
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USDGLO is a niche stablecoin with a limited market presence. It is appropriate for users who would like to support public goods while holding stablecoins.