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Stably Launches Bitcoin’s First BRC-20 Stablecoin

• Stably has launched the first-ever dollar-pegged stablecoin issued directly on the Bitcoin blockchain.
• The token, Stably USD ($USD) is redeemable 1 to 1 for USD collateral managed by its custodian, Prime Trust.
• This token may be issued and redeemed through various transfers such as Fedwire and SWIFT, or Circle’s USDC, or Tether’s USDT.

Introduction

Stably – a stablecoin-as-a-service provider and fiat to crypto on-ramp – has launched the first-ever dollar-pegged stablecoin issued directly on the Bitcoin blockchain.

What is Stably USD?

The token, Stably USD ($USD) is based on the emerging BRC-20 token standard around which many Bitcoin-based memecoins popularized earlier this month. This token is redeemable 1 to 1 for USD collateral managed by its custodian, Prime Trust at FDIC insured banks. It may be issued and redeemed through dollar transfers over Fedwire and SWIFT, or through rival stablecoin transfers including Circle’s USDC, or Tether’s USDT. Direct issuance is available to KYC verified users across 200 countries including 44 U.S states.

Stability of Stably USD

The custodian of Stably USD is subject to external audits by The Network Firm which ensures that circulating tokens are always backed 1 to 1. As of May 24th 2021, Stably USD had a market cap of $101000 with a total supply (including non circulating coins) of 69,420,000,000,000 – a meme number reflective of the market upheld by the BRC 20 token standard used for memecoins popularized earlier this month .

Benefits

Stably offers various benefits such as easy access from 200 countries across 44 U S states with direct issuance available after KYC verification making it easier for users access their services .It also provides security in terms of providing stability backed up by an external audit ensuring that tokens are always backed up on a one to one basis .

Conclusion

By launching its first ever dollar pegged stable coin ,Stably reinforces its position as a leading provider in fiat to crypto on ramps , providing users with easy access while maintaining security and stability .

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