TechFlow news, Bermuda-based digital asset bank Jewel Bank plans to issue a dollar-pegged stablecoin called Jewel USD (JUSD) on the Polygon network. JUSD will maintain a reserve ratio of at least 1:1 with the U.S. dollar, ensuring sufficient funds in reserve to back every circulating JUSD at all times. Jewel Bank stated it will also conduct regular audits of its stablecoin reserves and provide monthly and quarterly reports.
Earlier report: Bermuda's digital asset bank Jewel Bank announced it has obtained a full banking and digital asset business license from the Bermuda Monetary Authority (BMA). Jewel Bank will issue stablecoins and offer real-time settlement services tied directly to bank deposits for global digital asset institutions.Original link
