Stably Platform Will Enable Turn-key Development of Branded Stablecoins on the DigitalBits Blockchain
The XDB Foundation and Stably Corporation, a Seattle-based fintech firm hyper focused on stablecoin development, have announced a new partnership deal, which will add Stably to the DigitalBits ecosystem. The announcement was made live during the Futurist Conference, Canada’s leading blockchain and emerging technologies event, held virtually. XDB Foundation’s Managing Director Michael Gord and Stably’s co-founder and CEO Kory Hoang were joined by DigitalBits founder Al Burgio during the “Branded Stablecoins: Enhancing the Relationship that Exists Between a Brand and Consumers” panel discussion, moderated by David Gokhstein, CEO of Gokhstein Media.
In collaboration with their regulated partner Prime Trust, Stably is responsible for the creation of USDS, a prominent USD-pegged stablecoin. Stably’s Stablecoin-as-a-Service brings a white label stablecoin solution to the DigitalBits blockchain, allowing brands and enterprises to quickly and easily launch secure, compliant stable assets on-chain with the foremost in blockchain technology.
Stably also announced that it will add USDS to the DigitalBits network as the first stablecoin leveraging the Stably platform with the DigitalBits blockchain. This DigitalBits-based USDS will allow users to transact with other DigitalBits-based branded currencies, including other fiat pegged branded currencies across the DigitalBits network. USDS is currently based on the ERC-20 token standard for Ethereum and the BEP-2 standard for Binance Chain.
“Together, Stably and the XDB Foundation are focused on driving development, use-cases, and ultimately widespread adoption for branded stablecoins,” said XDB Foundation’s Michael Gord. “Stably’s mission is to bridge wealth from the real world to digital worlds, be it blockchains, virtual realities or video games. We look forward to tokenizing various asset classes including fiat currencies, commodities and even collectibles on the DigitalBits network to enable faster, cheaper and borderless transactions globally,” said Stably’s CEO Kory Hoang.
Stably predicts that in the future, most major brands will use their own form of branded stablecoin. These unique assets afford companies numerous benefits, such as generating interest on reserve assets, significantly reduced transaction fees, as well as enhancing marketing and customer loyalty.
The Futurist Conference’s speaker list needs no introduction for the most part and includes blockchain pioneers, influencers, and celebrities. This year the conference was attended by Bitcoin.com founder Roger Ver, SingularityNET CEO Ben Goertzel, MakerDAO Co-founder Rune Christensen, CoinDesk’s Chairman Michael Casey, as well as actor James Pratt and Emmy-winning producer Cindy Cowan.
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