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Goldman Sachs introduces its own cryptocurrency

May 17, 2018, 8:33 AM EDT
The Circle U.S.D. Coin will have its value tied to that of a U.S. dollar.
(Source: Zach Copley/flickr)

The turbulent cryptocurrency market with its dramatic ebbs and flows over the last few months may expect a reversal to sanity with a major financial institution like Goldman Sachs launching a new cryptocurrency called the Circle U.S.D. Coin.

The Circle U.S.D. Coin will have its value tied to that of a U.S. dollar to sail through the instability and inflation affecting other unregulated cryptocurrencies like Bitcoin, writes Futurism.

Volatility in cryptocurrencies has kept them from widespread adoption as a means of payment, a challenge that Circle's new U.S.D. Coin will address, notes CNBC.

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