Enter Output International (IOG) has unveiled a brand new initiative generally known as XSY, pronounced ‘eksy’. The specifics of this mission, shrouded in a veil of promoting terminology, are difficult to decipher. Regardless of the abundance of promotional jargon, it seems that the mission will contain the creation of a brand new stablecoin.
The mission was introduced in October 2023 with the appointment of W. Sean Ford as CEO and David Markley as COO. Each Ford and Markley have joined IOG to guide a brand new enterprise centered on the stablecoin area.
David Markley’s profession historical past is fascinating.
He’s a multifaceted product and operations chief. At Algorand, he led the Operations, Enterprise, and Enterprise Options groups. He was additionally concerned in Algorand’s mission to construct the world’s first nationwide digital forex, the Marshallese sovereign.
The Marshallese Sovereign (SOV) is the world’s first nationwide digital forex. It was launched by the Republic of the Marshall Islands in 2018. The SOV is not only a illustration of the native fiat forex, however somewhat an unbiased coin.
Algorand was chosen because the know-how associate for this mission.
Algorand’s protocol was carried out to offer the SOV initiative with velocity…
