Glo Dollar (USDGLO) on Stellar
Glo can be used like any other stablecoin, but it also enables a new crypto use case: donationless philanthropy. Like other stables, Glo Dollar makes money from the interest on the fiat reserves. The difference: the Glo Foundation does not make profits. Instead, they donate 100% of the interest received to GiveDirectly, the world’s fastest-growing charity. They provide basic incomes for people living in extreme poverty, in countries such as Kenya.
*The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on the day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker XLMUSD_RR) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
