US anti-inflation activists launch USDDi stablecoin

Odaily News Two veterans of the U.S. inflation protection and foreign exchange derivatives space have launched USDi, a U.S. dollar stablecoin whose value is determined by the growth of the U.S. Consumer Price Index (CPI) since December 2024. As of April 15, its value was $1.00863. According to Michael Ashton, who began his inflation protection investing career at Barclays in the early 2000s, USDi is equivalent to the principal of TIPS, or in theory, an inflation-protected savings account. According to a statement from USDi Partners LLC, the token will have a value with the same purchasing power as the U.S. dollar in December 2024. USDi will mint and destroy tokens at their marked value, which, like the principal of TIPS, will depend on the CPI of the day. (Bloomberg)