Stablecoin Service Provider Stably Launches Stablecoin on Bitcoin Network Called #USD

May 26, 2023

Stablecoin service and payment infrastructure provider Stably announced the launch of #USD, a US Dollar stablecoin based on the BRC-20 token standard. According Stably, #USD is the first US Dollar stablecoin on the Bitcoin network, which aims to provide the Bitcoin community with a transparent and regulatory-compliant stablecoin.

#USD is a fully-collateralized stablecoin. Each #USD is backed 1:1 with the US Dollar held by a US-regulated custodian in a collateral account. A third-party stablecoin attestor will conduct monthly attestations for the account to ensure the number of circulating stablecoins is equal to the collateral account's balance.

This article is for informational purposes only. It is not offered or intended to be used as investment or other advice.

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