Palm USD (PUSD) is a stablecoin built within the Ethereum ecosystem that is designed to provide a digital dollar infrastructure aimed at institutional users. Unlike most USD-pegged stablecoins that hold reserves directly in dollar-denominated assets, PUSD is backed by reserves denominated in Saudi Riyal (SAR) and UAE Dirham (AED), both of which maintain long-standing pegs to the US dollar. This structure allows the token to combine dollar stability with regionally based reserve assets. The project is positioned as an institutional-grade platform, targeting enterprises, financial institutions, and sovereign entities rather than retail users. Its stated use cases include cross-border settlement, global commerce, and treasury management, with an emphasis on compliance, security standards, and Shariah-compliant design, making it notable for participants operating within Islamic finance frameworks. As a stablecoin category asset, PUSD is intended to maintain a consistent value relative to the US dollar through its reserve backing rather than algorithmic mechanisms.
The redesign consolidates market infrastructure and adds an OracleAggregator, while audits and a $5M bug bounty aim to strengthen the new system.
The redesign replaces a 2019 foundation with unified market infrastructure, while audited canary markets will precede the planned switchover.
The refund pledge buys goodwill, but a third-party vendor breach, repeated phishing incidents, and a federal marketing investigation now converge on the prediction market at the same time.
PUSD is an institutional-grade stablecoin project providing a digital dollar infrastructure.
Palm USD (PUSD) is categorised as: Stablecoins, USD Stablecoin, Ethereum Ecosystem.
The official Palm USD site is https://www.palmusd.com/.
Most recent Palm USD coverage: "Polymarket Launches V2 With Unified ERC-1155 Contracts" — read at /en-US/a/polymarket-launches-v2-with-unified-erc-1155-contracts.
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