Stably USD stablecoin launches on Polymesh, enabling institutions to interact with security tokens with US dollars

The Polymesh Association is thrilled to announce the official launch of Stably USD ($USDS) on Polymesh, marking the first natively-issued US-dollar backed stablecoin on the blockchain! 

The news is exciting for the Polymesh ecosystem as it means issuers and investors can now interact with security tokens on Polymesh in a stablecoin instead of other volatile cryptocurrencies. 

$USDS is a USD-backed stablecoin developed by Stably, a Seattle-based Web3 payment infrastructure and Stablecoin-as-a-Service provider. $USDS is the first product released as part of an ongoing collaboration between Stably and Polymesh supporting Polymesh’s objective of increasing institutional comfort with tokenization. 

$USDS will expand the Polymesh ecosystem by facilitating the on-chain trading of crypto assets in USD-denominated fiat prices instead of cryptocurrencies. Additionally, $USDS can be used to securely bridge liquidity between Polymesh and the 12+ other blockchains where it exists natively. 

“Polymesh was a clear partner of choice for Stably given our shared vision for the compliant tokenization of assets”, said Kory Hoang, CEO and Co-Founder of Stably. “We’re thrilled to be working alongside a leader in this field, and are eager to explore which other avenues this collaboration may take us.”

“Stably’s strong reputation for regulatory-compliant stablecoin infrastructure will be comforting for Polymesh participants preferring fiat to crypto when interacting with security tokens”, said Graeme Moore, Head of Tokenization at the Polymesh Association. “We’re excited to announce the launch of $USDS on Polymesh as the first of many future stablecoins that will widen access to tokenization”.

About Stably

Stably is a Web3 payment infrastructure provider and FinCEN-registered MSB from Seattle. The company specializes in providing fiat gateways, multi-chain stablecoins, and cross-chain bridged tokens to users of Web3 applications. Stably’s mission is to power this decade’s next billion Web3 users with regulatory-compliant payment infrastructure across both developed and emerging blockchain ecosystems.

Visit stably.io to learn more.

About Polymesh

Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.

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Visit polymesh.network to learn more.