<p>Former employees of JPMorgan, Intel and TrustToken have launched a new USD-backed stablecoin with a revenue-sharing model twist.</p> <p>Dubbed USD Digital (USDD), the stablecoin has been launched by Global Currency Organization (GCO), which plans to share its revenues with participating exchanges, wallet providers and over-the-counter or OTC desks.</p> <p>“Currently, all fiat-backed stablecoin projects earn revenue from the funds that back their token (funds that earn interest from the trust company), keeping 100% of the revenue,” GCO told The Block, adding that it is “flipping this model upside down,” by sharing its revenue with an open network of institutional partners.</p> <p>The firm stressed that stablecoins and the cash backing them are not revenues.</p> <p>The USDD stablecoin is an ERC20 token built on Ethereum and is “fully backed” by US dollars, GCO said, adding that accounting firm Cohen &amp; Co. provides attestations of the USD backing. <br /> <br /> The firm further said that USDD is its first stablecoin, indicating that it could launch more stablecoins in the future. </p>