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DigitalBits x Stable
Stable platform to enable turnkey development of branded Stablecoin on the Blockchain DigitalBits
Grand Cayman, Cayman Islands, November 12, 2020 (GLOBE NEWSWIRE) – The XDB Foundation today announced the addition of Stably Corporation, a Seattle-based fintech company hyper focused on stablecoin development, in the DigitalBits ecosystem. In partnership with their regulated partner Prime Trust, Stably is responsible for the creation of USDS, a major stablecoin pegged to the USD. Stable’s Stablecoin-as-a-Service brings a white label stablecoin solution to the DigitalBits blockchain, enabling brands and companies to quickly and easily launch secure and compliant stable assets across the chain with the most cutting-edge blockchain technology.
Stably also announced that it will add USDS to the DigitalBits network as the first stablecoin to leverage 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-branded currencies on the DigitalBits network. USDS is currently based on the ERC-20 token standard for Ethereum and the BEP-2 standard for Binance Chain.
“I am thrilled to see Stably on board and to make a significant contribution to the DigitalBits ecosystem by integrating their stablecoin platform. It is very exciting to work with a company that shares our vision for branded stablecoins and sees the benefits that these resources can lead to both brands and users. Together, Stably and the XDB Foundation focus on fostering the development, use cases, and ultimately widespread adoption of branded stablecoins. ” said Michael Gord, chief executive officer, XDB Foundation.
“We are thrilled to be joining the DigitalBits ecosystem”, said Kory Hoang, co-founder and CEO of Stably. “Stably’s mission is to connect real-world wealth to digital worlds, be it blockchain, virtual reality 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. “
He firmly predicts that most major brands will use their own form of branded stablecoin in the future. These unique assets offer businesses numerous benefits, such as generating interest on reserve assets, significantly reduced transaction fees, as well as improving marketing and customer retention.
The DigitalBits project, since its inception in 2017, has seen the creation of a robust ecosystem of partners, including developers, blockchain projects, exchanges and enterprise. The XDB Foundation is now capitalizing on these building blocks to usher in the next phase of commercial integrations and brand adoption. The integration of DigitalBits’ blockchain with Stably’s centralized platform will serve as a turnkey solution for building branded stablecoins with an underlying compliant infrastructure.
The XDB Foundation and Stably are among the earliest participants in the World Stablecoin Association (WSA), with both organizations taking part in the first World Stablecoin Summit in August. This partnership demonstrates the potential for collaboration within the WSA and seeks to pave the way for further development and adoption of stablecoins.
Michael Gord and Kory Hoang will be joined by DigitalBits founder Al Burgio later today at Futurist conference, Canada’s leading event on blockchain and emerging technologies, which took part in the panel discussion “Branded Stablecoins: Enhancing the Relationship that Exists Between a Brand and Consumers”, chaired by David Gokhstein, CEO of Gokhstein Media. The futurist has historically attracted industry heavyweights and 2020 is no exception, with the conference no shortage of blockchain pioneers, influencers and celebrities, including Bitcoin.com founder Roger Ver, SingularityNET CEO Ben Goertzel, MakerDAO co-founder Rune Christensen, CoinDesk president Michael Casey, as well as actor James Pratt and Emmy-winning producer Cindy Cowan.
Information about DigitalBits
The DigitalBits project is an open source project that developed the DigitalBits blockchain protocol and a global transaction network and secure, low-cost tools. This blockchain protocol and network layer supports various use cases, including consumer digital assets, especially branded currencies.
About the XDB Foundation
The XDB Foundation is a non-profit organization focused on assisting DigitalBits and related technologies. The main objectives of the XDB Foundation include: supporting the innovation and adoption of the DigitalBits blockchain and the use of cryptocurrency to improve the consumer experience and corporate social responsibility initiatives, shaping commercial standards and requests for technical expansion , to grow the DigitalBits community through the inclusion of different regions; provide sustainability responsibilities and practices; and facilitating partnerships and ecosystem development.
About Stably
Stably is a Seattle-based FinTech company founded in 2018 by a team of former Amazon bankers and software engineers. Stably is also the blockchain developer of a wide range of crypto tokens and stablecoins backed by real assets, such as USD, EUR, CAD, precious metals and real estate. Their mission is to make financial transactions faster, cheaper and more transparent through a borderless digital money platform powered by open-banking and blockchain technologies. To find out more about Stably, visit: www.stably.io
This press release is for informational purposes only. The information does not constitute investment advice or an investment offer. XDB tokens and virtual currencies, in general, are not legal tender, in any country, and are not backed by any government as legal tender, nor should they be treated as such.
Media Contact Information:
Robert Pennington, [email protected]
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