FDIC-Backed Banks Send Stablecoins in USDF First

FDIC-Backed Banks Send Stablecoins in USDF First
NBH Bank and New York Community Bank have conducted the first USDF transaction over the Provenance Blockchain. NBH Bank minted the newly introduced stablecoin and sent it to a customer of New York Community Bank as part of a test run.USDF is a stablecoin offered by the USDF Consortium, a group of FDIC-backed banks that announced its formation last week. “We expect our membership to increase rapidly through 2022 as member banks demonstrate that USDF is a valuable, compliant component of their digital asset strategy,” said USDF Consortium Chair Ashley Harris in a press statement.Read more: US Banks Form Group…