Crypto payments company MobileCoin has partnered with Reserve to launch the US dollar Stablecoin eUSD

Crypto payments company MobileCoin has partnered with Stablecoin platform Reserve to launch the fully pledged US dollar Stablecoin eUSD, according to CoinDesk on October 10th. The eUSD is backed by a basket of other stablecoins, including the USDC, USDP, and TUSD. The eUSD will be issued on the MobileCoin blockchain and transactions will be encrypted end-to-end using zero-knowledge proof technology. eUSD is managed by the MobileCoin Foundation, which will elect the "Governors" responsible for forging and destroying the eUSD. The Governors mints the new eUSD after confirming that the collateral is transferred to the Gnosis Safe multi-sign wallet. Upon destruction, the Governors will send the eUSD to the specified destruction address and release the collateral.