Exodus Movement Inc., a crypto wallet provider, has announced that it has added the Bitcoin-backed stablecoin Sovryn Dollar (DLLR) to its balance sheet. The initial allocation in DLLR represents approximately 25% of Exodus’s quarterly interest income, although the exact dollar figure has not been disclosed. By adding DLLR to its corporate treasury, Exodus aims to have continuous access to operational funds without relying on traditional banking services. The CEO of Exodus, JP Richardson, believes that this move is a step towards a new era of financial control and self-custody. In addition to being included on Exodus’s balance sheet, the Sovryn Dollar will soon be available to all of Exodus’s users across various platforms. Sovryn Dollar is issued by the Mynt protocol and is backed by Bitcoin. It is currently backed by ZUSD and Money On Chain DOC stablecoins. DLLR is also the default stablecoin in the Sovryn DeFi ecosystem for trading and lending activities.
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