INTRODUCING THE USDF CONSORTIUM™
USDF is a Bank-Minted Tokenized Deposit Referencing Fiat Currency on Blockchain
The USDF Consortium is a membership-based association of FDIC-insured banks. Our mission is to build a network of banks to further the adoption and interoperability of a bank-minted tokenized deposit (USDF™), which will facilitate the compliant transfer of value on the blockchain, removing friction in the financial system and unlocking the financial opportunities that blockchain and digital transactions can provide to a greater network of users.
USDF Consortium is making the market safer, cheaper and more reliable for consumers who want to transact on blockchain by ensuring banks continue to play an important role in the financial ecosystem as blockchain adoption accelerates. We are committed to building the foundation and advancing responsible innovation that will allow banks to harness the benefits of this transformative technology.
The Consortium’s founding bank members include New York Community Bank, NBH Bank, FirstBank, Webster Bank, and Synovus Bank. Figure Technologies, Inc. and JAM FINTOP are also founding members and will facilitate and promote the adoption of USDF. The Consortium looks to significantly grow its membership of FDIC-insured banks throughout 2022 and beyond.