UMA- a decentralized financial contracts platform- has collaborated with Dai, a USD-backed stablecoin, to create the USStocks token for investors to trade the American S&P 500 Index, Cointelegraph reported.
According to Cointelegraph, the USStocks token can be purchased via Dai, and traders can track the S&P 500 using the token.
Rune Christensen, the CEO of Maker- the company behind Dai- enthused:
"USStocks is an exciting example of how decentralized finance can unlock economic opportunities for people regardless of geography or income level."
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