The mission of the Stably Blockchain network involves bridging the gap between real-world assets and emerging digital products.
Seattle-based FinTech startup Stably is partnering with the XDB Foundation, the non-profit organization focused on assisting DigitalBits and related technologies, to bring stablecoin access to the DigitalBits blockchain. In a press release shared with Coinspeaker, the partnership between the XDB Foundation and Stably will see the latter firm, together with its Prime Trust partner add its USDS Stablecoin to the former’s blockchain ecosystem.
In addition to the USDS addition, the Stablecoin as a Service offering from Stably will benefit clients already utilizing applications on the DigitalBits blockchain. With the service, brands, and enterprises to quickly and easily launch secure, compliant stable assets on-chain with the foremost in blockchain technology.
Reacting to the partnership, Michael Gord, Managing Director, XDB Foundation said:
“I am thrilled to see Stably onboard and make a significant contribution to the DigitalBits ecosystem with the integration of their stablecoin platform. It’s very exciting to work with a company that shares our vision for branded stablecoins, and sees the benefits that these assets can bring to brands and users alike. Together, Stably and the XDB Foundation are focused on driving development, use-cases, and ultimately widespread adoption for branded stablecoins.”
With the USDS token built atop the Ethereum network as an ERC-20 token standard while also tapping the BEP-2 standard for Binance Chain, the XDB Foundation noted that the partnership will help users with other fiat pegged branded currencies across the DigitalBits network can transact the USDS token across a wide range of platforms.
Through the creation of a branded token pegged to a real-world asset, expectations mounts for the Stably offering to help organizations in reducing cost implications attached to financial transactions. Other benefits DigitalBits Blockchain clients will benefit from the Stably partnership include the generation of interest on reserve assets, as well as enhancing marketing and customer loyalty.
Stably Blockchain to Bridge the Gap between Virtual and Real-World Assets
The mission of the Stably Blockchain network is simple and ambitious and involves bridging the gap between real-world assets and emerging digital products.
“We are excited to be joining the DigitalBits ecosystem,” said Kory Hoang, Co-founder, and CEO, Stably. “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.”
The integration with the XDB Foundation’s DigitalBits blockchain will serve as a vital means to advance its course. If Stably is successful in its mission to make financial transactions faster on the DigitalBits Blockchain cheaper and more transparent through a borderless digital money platform powered by open-banking and blockchain technologies, it’s potential to land more clients and show them the unique capabilities of stablecoins will be further enhanced.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.