What are USDV tokens and how do they work?
USDV tokens will be digital assets that move across blockchains just as easily as other digital currencies, but will be pegged to the US dollar on a 1-to-1 basis.
Price Stability
USDV tokens will be referred to as stablecoins because they will offer price stability as they will be pegged to fiat currency. This will offer traders, merchants and businesses a low volatility solution when managing digital assets.
100% Backed Reserves
All USDV tokens will be pegged at 1-to-1 with the US dollar (1 USDV = 1 USD) and will be backed 100% by Vuntris's reserves maintained at FDIC and other licensed financial institutions. As a fully transparent company, we will publish records of our current reserve assets and provide monthly third-party attestations.
Blockchain Ready
USDV tokens will exist as digital tokens built on various blockchains. Issuance of USDV will be viable on multiple blockchains with varying capabilities depending on the transport protocol used.
How USDV Tokens are Issued
Vuntris will only issue new USDV tokens when they are requested and purchased by verified customers who have passed our strict KYC/KYB procedures.
KYC/KYB Verification
All customers must complete rigorous KYC/KYB verification procedures.
USD Deposit
Customers deposit US dollars into accounts at regulated financial institutions.
Token Minting
Upon confirmation of deposit, equivalent USDV tokens will be minted and transferred to the customer's wallet.