"Building Trust with On-Chain US Treasury-Backed Stablecoins," says OpenEden CEO Jeremy Ng

# Open Eden CEO Jeremy Ng Advocates for On-Chain Treasury-Backed Stablecoins to Enhance Trust and Transparency # Stability and Trust at the Core of Stablecoins DENVER—During a panel discussion at the "DeFi Basecamp" on February 26, Jeremy Ng, CEO of Open Eden, emphasized that the core elements of stablecoins are stability and trust. "Increasing the transparency of collateralized assets and complying with regulations are key to user protection," he stated. # Benefits of On-Chain Treasury-Backed Stablecoins Ng highlighted the safety of collateral assets as the most crucial factor for maintaining the stability of stablecoins. "Open Eden's stablecoin, 'Open Dollar (USD0),' is backed by on-chain U.S. Treasury bills (T-bills)," he explained. "These are among the world's safest assets, with a daily trading volume ranging from $150 billion to $250 billion." "With on-chain treasury collateral, stablecoin holders can check the collateral status in real-time," Ng emphasized. "The collateral assets are securely stored by custodians under separate regulatory oversight, ensuring high levels of trust." # Regulatory Compliance for User Protection Jeremy Ng stressed that regulatory compliance is just as important as a robust collateral model. "There needs to be a way to verify that stablecoin issuers actually hold sufficient assets and that these assets safeguard user rights," he said. "Without such verification processes, unreliable operations could lead to issues similar to the FTX debacle." He further pointed out, "Open Eden holds financial regulatory licenses in Singapore and digital asset licenses in Bahrain. The company is under strict oversight by regulatory bodies, performing regular audits and reporting, prioritizing user protection." "Companies that comply with regulations bear legal responsibility when issues arise, acting as a user protection measure," Ng added. "This is why projects adhering to regulatory environments, like Open Eden, gain trust." # The Future of Stablecoins: Transparency and Governance Ng projected that while Tether (USDT) and Circle (USDC) currently dominate the stablecoin market, new models emphasizing transparency and user participation will gradually make significant inroads. "Open Eden plans to allow users to earn interest on collateral assets and enable community participation in decision-making through governance tokens in the future," he revealed. "This approach aims to progressively transform the stablecoin market, which is currently dominated by Tether and Circle." "In order to ultimately gain trust, transparency and regulatory compliance are essential," Ng concluded. "Open Eden will propose new alternatives in the stablecoin market based on these principles." # [End]