- Stably launched #USD, the first BRC20 stablecoin on Bitcoin network, revolutionizing the ordinals market.
- Every #USD token is fully collateralized with USD held by a US-regulated custodian, ensuring security.
- Integration of BRC20 #USD supports Stably’s mission to power next billion Web3 users.
Stably, a renowned player in the Stablecoin-as-a-Service (SCaaS) space, has unveiled a revolutionary development in the cryptocurrency market: #USD, a BRC20 stablecoin on the Bitcoin network. This product introduction marks an essential landmark in the burgeoning Bitcoin ordinals ecosystem, demonstrating a notable stride towards a more diversified and integrated cryptocurrency market.
Each #USD token is meticulously collateralized in a 1:1 ratio with USD held by a US-regulated custodian, reinforcing a strong commitment to ensuring the integrity and trustworthiness of the token. Stably’s CEO, Kory Hoang, recalls the humorous yet inspiring conversation with Domo, the creator of the BRC20 standard, that led to the realization of this innovative venture.
The integration of the BRC20 #USD into the Bitcoin network aligns with Stably’s ambition to facilitate a seamless transition from fiat to crypto, thereby bridging the gap between conventional and digital finance. The company has introduced an issuance/redemption system for #USD, promising a more streamlined process and diverse payment options in the future.
Backed by leading investors, Stably has extended its influence across more than 10 emerging networks and is committed to providing regulatory-compliant payment infrastructure to the next billion Web3 users.
As for the future of BRC20 blockchain technology, the launch of #USD on the Bitcoin network is just the beginning. The potential for the growth of BRC20 tokens is immense, with opportunities for their use expanding beyond stablecoins to areas like digital art and “meme coins”.
This development is likely to stimulate further innovation, cementing the importance of BRC20 tokens in the future of cryptocurrency. With thecontinued evolution of Bitcoin ordinals and the introduction of more BRC20 tokens, we can expect a significant transformation in the way we perceive and engage with blockchain technology.
The advent of #USD signifies an exciting chapter in the history of Bitcoin and cryptocurrencies at large. Stably’s bold move demonstrates the potential of BRC20 tokens to revolutionize the financial landscape, making it more inclusive and diverse, thereby paving the way for the future of digital finance.
