Announcement

[November 13, 2024]

Notice Regarding the Removal of USDV and Conversion of USDV to USDC

Dear USDV Community,

This is to notify you that the Verified USD Foundation (the “Foundation”) has halted minting of new USDV. The Foundation will cease support for USDV on December 31, 2024. Please be assured that all USDV remain pegged 1:1 to the US Dollar by tokenized real world assets, which are 100% backed by cash and highly liquid cash equivalents (short-term treasury bills and overnight repos).

Users are encouraged to convert their USDV assets into other available assets as soon as possible. The existing Uniswap V3 USDV/USDC pool on the Arbitrum network linked here is well capitalized and ensures that all USDV holders can exchange their tokens for USDC at a 1:1 ratio. Users holding USDV on other networks may bridge to Arbitrum using Stargate.

Please note that Short Term Treasury Bill Token (“STBT”) is not impacted by this announcement and will remain active following the removal of USDV from circulation.

We thank you for your engagement as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth. Should you have any queries, please reach out via direct message to https://x.com/USDV_Money for assistance.

Thank you for your support!

Verified USD Foundation