What is Stably (USD)?
Stably USD is a token on the XRP Ledger and is a multichain stablecoin pegged 1-to-1 with the US Dollar, offering a stable digital currency option across various blockchain networks. It is redeemable for USD or USDC, with its value backed by assets held in bank deposits, money market instruments, and USDC, managed by regulated entities. Launched in 2018, USDS has expanded to multiple blockchains, enhancing its accessibility for users globally. Stably ensures transparency and trust by conducting regular independent attestations and publishing financial statements, confirming that each USDS token is fully collateralized. Primarily used for converting fiat to crypto, settling payments, and engaging with Web3 applications, USDS facilitates near-instant cross-border transactions and provides a stable asset in the volatile crypto market.
Who Are the Founders of Stably?
Kory Hoang: He serves as the Co-founder of Stably. Hoang plays a crucial role in driving the company's vision and mission, which is to empower the next billion Web3 users with an efficient, cost-effective, and non-custodial fiat onramp to various blockchains and digital assets.
David Zhang: As the CTO and Co-founder, Zhang brings his expertise and passion for disruptive technologies, especially in the realms of financial markets and blockchain. His focus on innovation and adaptability underpins the technological advancements and strategic direction of Stably.
What Makes Stably Unique?
Stably stands out in the fintech and blockchain industry due to several unique features and its approach to providing stablecoin and fiat onramp services:
Multichain Stablecoin Infrastructure:** Stably offers a stablecoin, Stably USD (USDS), which operates across multiple blockchain networks. This multichain approach enhances the accessibility and utility of USDS, making it a versatile tool for users across different blockchain ecosystems.
Regulatory Compliance: Stably places a strong emphasis on regulatory compliance. By ensuring that its operations align with regulatory standards, Stably builds trust and credibility, particularly important in the often uncertain regulatory environment of cryptocurrencies.
Global Accessibility: Stably's services are available to users in over 170 countries and regions, indicating a broad and inclusive reach. This global accessibility is key in a market where many fintech and blockchain services are restricted by geographical boundaries.
Competitive Rates and Efficiency: The platform offers competitive rates for buying, selling, or swapping digital assets. Efficiency in transactions, coupled with favorable rates, makes Stably an attractive option for users looking to engage with digital assets.
Mission-Driven Approach: Stably's mission to power the next billion Web3 users underscores its commitment to expanding the accessibility and usability of blockchain technology. This mission-driven approach is geared towards inclusivity in the digital asset space.
Non-Custodial Fiat Onramp: The focus on a non-custodial fiat onramp to blockchain networks and digital assets emphasizes user control and security. By enabling users to maintain control over their assets, Stably enhances user trust and security in its services.
Innovative Leadership: The founders, Kory Hoang and David Zhang, bring unique perspectives and a strong passion for disruptive technologies, especially in blockchain and financial markets. Their leadership and vision are pivotal in driving Stably's innovative approach.
Stably's unique combination of multichain infrastructure, regulatory compliance, global reach, competitive pricing, a strong mission, non-custodial services, and innovative leadership sets it apart in the blockchain and fintech space, positioning it as a significant player in facilitating the broader adoption of digital assets.
Stably XRP Ramp Removal
When reviewing Stably Ramp, it was noted that the ability to use the XRP Ledger (XRPL) was available in early 2023, but it has since been removed. An XRPL researcher named Darkhorse, on platform X, questioned why Coreum has taken the XRPL's slot and where the only USD stablecoin on the XRPL has gone. It should be noted that XRPL is currently not supported on Stably Ramp. The currently supported networks are Avalanche, Ethereum, Stellar, Solana, Horizen, Arbitrum, Coreum, Polygon, and Viction.
Read more about. Stably
Learn more about Stably Ecosystem.
Visit Stablyc website.
Where Can You Buy Stably USD?
Stably USD is a token trading on the XRP ledger DEX, the most straight forward way to acquire Stably USD tokens would be to purchase them through XRPL DEX.
How to stay tuned for further updates?
If you wish to receive more updates about the Stably ecosystem and upcoming events, we suggest you follow @Stably_Official on Twitter.