What is Fathom Dollar?

Symbol: FXD · Market cap rank: #2796

Short answer

Fathom Dollar (FXD) is a cryptocurrency currently ranked #2796 by market capitalisation. It is classified as Stablecoin, RWA.

Source: isthiscoinascam.com

Overview

Fathom Dollar (FXD) is a stablecoin developed by Fathom DAO, operating on the XDC Network. It is designed to maintain a stable value, pegged to the U.S. dollar, and is backed by over-collateralized XDC Tokens stored in smart-contract vaults when new FXD tokens are issued.

The primary purpose of FXD is to facilitate trade finance, providing micro, small, and medium-sized enterprises (MSMEs) direct access to alternative investors. Through specific platforms, FXD aims to offer these businesses a more accessible and cost-effective method for acquiring necessary capital, thereby potentially supporting economic growth and job creation.

Launched: 2023

Headquarters: Unknown

Scam-risk analysis

Fathom Dollar has a moderate score — some risk signals were raised but no critical concerns. Is Fathom Dollar a scam?

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