Glo Dollar | Bluechip

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.
Yield generated from USDGLO reserves are used to fund public goods.
The reserves comprise US Treasury debt and cash deposits in fully segregated accounts, but these are unlikely to be bankruptcy-remote.
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.

The Stability factor is evaluated on the following:

Reserves Management - Quality, quantity, storage and segregation of reserve assets
Market Feedback - Indicators of market's confidence in a stablecoin derived from price and trade data
Mechanism - Stabilization methods that protect the stablecoin

The Management factor is evaluated on the following:

1. Restrictions - What deterrents exist to prevent key personnel of stablecoin projects from unethical and illegal behavior?
2. Negative Track Record - Have key personnel been involved in scams, frauds or other illegal activities?

This factor aims to assess risks arising from technical implementations – i.e, smart contract code and oracles. It is currently not assessed, but we plan for it to be evaluated in the future.

The Decentralization factor is evaluated on the following:

Platform Censorship Risk
Custodian Risk
Type of Collateral
Diversified voting Power
User Censorship Risk

The Governance factor for fiat-backed stablecoins is evaluated on the following:

Holder Protection - What rules, statutes, or codes exist to protect the interests of stablecoin holders?
Reserves Verification - What checks are done to ensure the existence of reserves?
Redemptions - Do issuers have transparent and reasonable redemption terms?

This factor seeks to incorporate external feedback mechanisms such as market and social sentiment into our internal ratings. It is currently not assessed, but we plan for it to be evaluated in the future.