On September 18th, BitGo plans to launch the US dollar stablecoin USDS next year, which will offer rewards to institutions that provide liquidity to the network. USDS will be backed by short-term treasury securities, overnight repos, and cash like other stablecoins in the market. This will be BitGo's first publicly participating stablecoin. Mike Belshe, chief executive of BitGo, said in an interview: "The main reason for launching USDS is that while existing stablecoins have great features, we see an opportunity to create a more open and fair system that fosters innovation and, most importantly, rewards those who contribute to the network. The real value of stablecoins comes from their users, the liquidity they provide and the access points to exchange."