Polkadot launches decentralized stablecoin dotUSD

Polkadot announced the launch of dotUSD, a decentralized stablecoin. dotUSD was introduced in response to concerns that the global stablecoin market is issued and controlled by a small number of companies. The stablecoin uses a structure without a specific issuing company or a single controlling entity. Governance of dotUSD is handled by Polkadot’s DOT DAO through OpenGov.