What Is 55 Global Markets USDD?

Issued by the 55 Global Markets, USDD is one of the world’s first dollar, backed by a transparent and effective cryptocurrency while utilizing the stable DaoCoin infrastructure. Furthermore, USDD promises to generate interest returns for its users every 24 hours and enable them to make purchases and redemptions based on the 55 OTC market.

The 55 Global Markets is a blockchain-based cryptocurrency trading platform that has six established sub markets to facilitate the exchange of multiple cryptocurrencies. The market will enable USDD holders to trade it with a wide variety of tokenized assets. Additionally, the trading platform also undertakes trading of traditional assets that include real estate, private equity, foreign exchange, and the trading of valuable metals like gold and silver.

The value of USDD is maintained and supported by the US dollar reserve, while PrimeTrust stores the funds of the token holders and Cohen & Company, a third party accounting company, will audit the management’s Trust Holdings Report.

On the 55 Global Markets platforms, USDD will serve as the measurement method for a stable coin for transactions, using all tokenized assets and cryptocurrencies such as Bitcoin, Ethereum and many more.

Through the 55 Global Market platform, users have the opportunity to convert USDT to USDD by the click of a button. This conversion does not attract any additional charges. The users can also use fiat currency to purchase or sell USDD on the 55 OTC market.

USDD’s official website will disclose the real time balances in the reserve and the current amount of USDD in circulation. The website will also enable users to check their USDD account balances and the distributed interests. The information will be acquired from the users account balances through an API that is compatible with DaoCoin and its smart contract address.

The third party accounting firm, Cohen & Company, will carry out examinations of USDD’s Trust Holdings Report each month to ensure that they achieve third party audit of the fixed assets, resulting in truthful and effective redemption reserves.

All the user funds are stored in a third party trust company meaning they cannot be misappropriated or stolen. Similarly, the 55 market website will display the bank balance and the token issuance amount in real time, making it possible for users to track their funds at all times.

Every 24 hours, the platform calculates the USDD interest a user should receive and the interest is automatically sent to the user’s 55 wallet account.

To acquire USDD, users are only required to deposit USDT into a 55 account or purchase USDD from the 55 OTC market. The USDD is also easily exchangeable to fiat currency through use of the DaoCoin infrastructure.

The stability of USDD reduces the risk investors are likely to face due to market volatility while providing them with access to a hedged investment. This, in the end, maximizes the returns generated from their investments.

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