London-based blockchain firm Saga announced the launch of its Saga token (SGA). The digital unit represents a global currency that complies with regulators’ requirements.
Saga Advised by Nobel Prize Winner, Former Bank of Israel Governor
The currency is backed by a basket of fiat currency to avoid high volatility. Thus, it acts like a stablecoin and resembles Libra – Facebook’s digital currency that is still under development.
Interestingly, the advisory board includes top economists like Myron Scholes, a Nobel Prize-winner, Jacob Frenkel, former Governor of the Bank of Israel and current chairman of JPMorgan Chase International, as well as Dan Galai, a pioneer of the VIX volatility index.
The company was founded and is led by Ido Sadeh Man. He explained in an interview with CNBC:
Unlike other players, we don’t want to be the…