menuIcon
$ 82,376.5
BTC
$ 82,376.5
-1.63 %
$ 1,820.63
ETH
$ 1,820.63
-2.80 %
$ 0.6707
ADA
$ 0.6707
-3.58 %
$ 604.83
BNB
$ 604.83
-2.27 %
$ 124.80
SOL
$ 124.80
-3.50 %
Jafrin Ahmed
May 10, 2022
by Jafrin Ahmed

Crypto Critic Nouriel Roubini Plans for a Tokenized Dollar Replacement

Nouriel Roubini tokenized asset
Economist Nouriel Roubini, who famously called Bitcoin “the mother of all bubbles,” is working on a tokenized asset intended to act as “a more resilient dollar.” The newly announced tokenized asset is set to be backed by U.S. Treasuries, real estate, and gold.

Roubini Teams Up With Atlas Capital

According to a Bloomberg report, Nouriel Roubini, the CEO of Roubini Macro Associates Inc. and professor of economics at NYU’s Stern School of Business, is working with the Dubai-based company he co-founded, Atlas Capital Team to develop an asset-backed United Sovereign Governance Gold Optimized Dollar (USG).

“Our goal is to create a global store of value. This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it,” Atlas co-founder and CEO Reza Bundy told Bloomberg.

Backed by Real Assets

The token, which will be launched later this year, will be backed by a mix of short-term US Treasury bonds, gold, and US real estate affected by climate change. Real estate investment trusts, or REITs, will make up the final bundle of assets.

The tokenized dollar replacement attempts to provide a hedge against rising inflation as well as the USD’s waning global supremacy. Unlike a typical cryptocurrency, however, Roubini claims that the coin will be backed by real assets.

Follow us on: News
Nouriel Roubini Tokenized Asset Nouriel Roubini Atlas Capital
Crypto Critic Nouriel Roubini Plans for a Tokenized Dollar Replacement
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.