Stably Corporation launched stable currency Stably USD on the Polymesh chain
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）
Interpretation of this information:
Stably Corporation, a Seattle based Web3 payment infrastructure and stable currency as a service provider, has recently announced the official launch of Stably USD on the Polymesh blockchain. The MSB licensed company had earlier launched its stable currency, USDS on the Ethereum network, followed by the Harmony public chain and XRP Ledger (XRPL). Stably USD is claimed to be the first stable currency issued by Polymesh in the US, and the result of Stably’s continued collaboration with the blockchain provider. Institutional users can create Stably Prime accounts to cast/exchange Stably USD or convert it into other digital assets, including USDC, USDT, BTC, ETH, etc.
The launch of Stably USD on the Polymesh blockchain opens up a new horizon for Stably Corporation and its institutional users. By leveraging the capabilities of the Polymesh blockchain, the company can enhance the security, reliability, and efficiency of Stably USD, thereby strengthening its credibility as a trusted stable currency. The move is also likely to provide Polymesh with exposure to a wider audience of institutional users, enabling it to make new inroads into the stable currency market.
The partnership between Stably and Polymesh hints at the growing trend of collaboration between stable currency providers and blockchain infrastructure providers. By leveraging each other’s strengths, they can deliver more efficient, secure, and user-friendly stable currency solutions to institutional users. The launch of Stably USD on the Polymesh blockchain is a step in that direction, reflecting the industry’s renewed focus on blockchain-based payment infrastructure and stable currencies.
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