Stably Corporation Launches Stably USD on Polymesh Blockchain
It is reported that the Seattle based Web3 payment infrastructure and stable currency as a service provider Stably Corporation announced the official launch of…
It is reported that the Seattle based Web3 payment infrastructure and stable currency as a service provider Stably Corporation announced the official launch of Stably USD on the Polymesh blockchain. Stably has the MSB license registered by FinCEN. Its stable currency, USDS, was launched on the main network of Ethereum in 2018, and then on the Harmony public chain and XRP Ledger (XRPL) in 2022. It is reported that Stably USD is the first stable currency issued by Polymesh in the United States and the first product of continuous cooperation between Stably and Polymesh. It allows institutional users to also create Stably Prime accounts to cast/exchange Stably USD or convert it into other digital assets, including USDC, USDT, BTC, ETH, etc. （prnewswire）
Stably Corporation launched stable currency Stably USD on the Polymesh chain
Interpretation of the news:
Stably Corporation, a Seattle-based payment infrastructure and stable currency as a service provider, has officially launched Stably USD on the Polymesh blockchain. This is the first stable currency issued by Polymesh in the United States and is the result of a continuous collaboration between Stably and Polymesh. Stably Corporation is registered with the Financial Crimes Enforcement Network (FinCEN) and has already launched its stable currency USDS on Ethereum, Harmony, and XRP Ledger (XRPL).
The launch of Stably USD on the Polymesh blockchain is significant as it allows institutional users to create Stably Prime accounts, through which they can easily cast, exchange, or convert Stably USD into other digital assets like USDC, USDT, BTC, ETH, etc. This makes Stably USD an attractive option for investors who want to remain invested in cryptocurrencies without the volatility typically associated with them.
Polymesh is a decentralized finance (DeFi) platform designed for security token issuances and institutional-grade security. The platform aims to provide a trustworthy environment for the issuance, transfer, and trading of security tokens. The Polymesh blockchain is specifically designed for these functions, making it an ideal choice for Stably USD.
The launch of Stably USD on the Polymesh blockchain not only expands the options for institutional investors but also marks an important development in the mainstream adoption of cryptocurrencies. The stability of Stably USD and the security of the Polymesh blockchain make it an attractive option for businesses that require compliant and secure transactions.
Overall, Stably Corporation’s launch of Stably USD on the Polymesh blockchain is a significant development in the world of cryptocurrencies. It brings stability and security to the industry, making it more appealing to institutional investors and businesses. With this collaboration, Stably Corporation is aggressively expanding its footprint in the crypto space, showcasing its strong commitment to providing innovative financial solutions to its users.
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