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Glo Dollar received its Bluechip rating, with an initial B grade

On April 5th 2024, Glo Dollar received its initial rating from Bluechip.

Ratings are based on the SMIDGE framework, for which Glo Dollar received the following assessments:

Stability. Stable
Management. Very low risk
Implementation. Not assessed
Decentralization. High risk (not relevant to the grade)
Governance. Low risk
Externals. Not assessed

See Glo Dollar's rating on Bluechip's website, or download the full report.

Glo Dollar is a top 10 fiat-pegged stablecoin, deemed safer than USDT and FRAX

^{The rating positions us in the top 10 fiat-pegged stablecoins}, higher than Tether's USDT and FRAX.

Still, there's room for improvement. We'll be working closely with our issuance partner Brale to continue improving our rating.

What is Bluechip?

Bluechip is an independent, nonprofit stablecoin rating agency. They evaluate stablecoins and tell the public which stablecoins look safer.

Bluechip was founded in 2023 by Ben Levit, Garett Jones, and Vaidya Pallasena and is backed by Nevin Freeman (Reserve), Rune Christensen (MakerDAO), Eli-Ben Sasson (Starkware), and others.

This could be the info box

In this program, GiveDirectly identifies impoverished African villages to give their citizens $30 per month, transferred via mobile money technology, for 3-5 years. For people living on less than $2/day this is a transformational amount.
Glo's economic model is to invest its reserve in short-term Treasury bills and give the proceeds away entirely to GiveDirectly.

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Bluechip rating

We received our Bluechip rating

Glo Dollar received its Bluechip rating, with an initial B grade. Glo Dollar ranks among the top 10 fiat-pegged stablecoins and is deemed safer than USDT, FRAX, GHO, and TUSD.