Effective today, eligible MCO Wallet App users will see the “USDM” tab in their cryptocurrency wallets.
With USDM, our customers are able to lock their crypto asset value in USD when they:
- Estimate they have generated an upside on their crypto asset, and/or,
- Expect the market to go down.
USDM is tied to USD: 1 USDM = 1 USD
USDM is tradable against all tokens available on the MCO Wallet App:
- BTC <-> USDM
- ETH <-> USDM
- MCO <-> USDM
- BNB <-> USDM
Availability and Use: USDM is available only for buy/sell crypto activities within the customer’s own MCO Wallet App account and cannot be transferred to any external address or to another MCO Wallet App user or redeemed for or withdrawn in USD.
Counterparty: MCO Digital Asset Holdings will be the counterparty to all customers’ USDM trades.
Hedging: Each trade will be hedged via on-market purchase of industry leading, production-tested stable coins, and other hedging strategies using our proprietary funds. The stable coin selection process is handled by MCO internal team based on key criteria including liquidity, historical volatility, project quality and auditability.
For further details, including legal terms & conditions of use, please refer to the MCO Wallet App T&Cs.