How does it compare to Nubits?
https://bitcointalk.org/index.php?topic=1000725.0
I’m not sure why they are announcing it now. It has been around for a while afaik.
When you buy CoinoUSD asset it is transferred to you, and can be traded or sold back to us.
Looks to me like there is a company behind it (coinomat.com) which tries to use a backing strategy to obtain the peg.