The Stably Blockchain startup has officially released StableUSD (USDS), a new stablecoin that was created to support the idea of the controversial but popular USD-backed Tether token.
Startup commented on its blog:
"Stably recognizes that a fiat-backed stablecoin requires a high standard of public transparency for consumers and businesses to build trust ... Users of Stably's future platform will be able to view our fiat reserve's balance in real-time via a live feed from Prime Trust's API."
From November 1, StableUSD (USDS) is available for purchase and payment. The token is backed by U.S. dollars held in escrow by the Prime Trust, a regulated trust company in Nevada, which plays a supporting role in a number of stablecoin projects.
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