Glo Dollar has launched a stablecoin on the Stellar network where all the proceeds go to charitable causes, with the holders choosing the causes of their choice to direct the funding.
Each Glo Dollar entitles a user to one vote, with some of the causes the project will target including combating climate change, fighting extreme poverty and promoting Web3 adoption.
Every year, stablecoins yield over $7 billion, but it all goes to the pockets of a few individuals who continue to build massive wealth. But what if the proceeds could go to noble causes, including charities assisting the less fortunate and championing causes critical to humanity’s survival? This is the idea behind Glo Dollar, a new stablecoin launching on the Stellar network.
Glo Dollar is a stablecoin 100% backed by cash and US treasuries, making it ever redeemable 1:1 against the US dollar. It promises monthly audits and attestations for its reserves by a third-party auditor, which is a critical consideration for any sta

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