What are BTCS and ETHS?
Introducing Stably BTC (symbol: BTCS) and Stably ETH (symbol: ETHS). BTCS and ETHS are wrapped (or “bridged”) digital assets that represent the underlying collaterals, Bitcoin and Ethereum, respectively. Each wrapped token is fully backed 1-to-1 by the underlying digital asset which is held in collateral accounts at Prime Trust, our US-regulated custodian. Stably, through our FinCEN-registered subsidiary, is the convertible virtual currency administrator of BTCS and ETHS. Stably manages the collateral accounts for the benefit of verified token holders who can issue/redeem BTCS and ETHS 1-to-1 with/for Bitcoin and Ethereum. To issue/redeem BTCS and ETHS, click here.
BTCS and ETHS are currently live on the Chia Network, with more blockchain network support coming soon in the near future. Below are the token addresses for Chia BTCS and ETHS:
Chia Network is building a better blockchain for real-world use. It is a secure, sustainable and regulatory compliant blockchain network, setting the standard for digital currency infrastructure and inclusive access to global, decentralized finance.
The public blockchain that derives its value from activities created by members within the ecosystem solving real world economic problems.
How to issue/redeem?
Follow the instructions here to verify KYC/KYB
- 2Fill out and submit your transaction request form
- 3Our team will contact you shortly after to provide instructions for the next steps
Deposit BTC or ETH into our collateral account at Prime Trust to receive BTCS or ETHS respectively, in your personal wallet
What to do with BTCS and ETHS?
Why is Stably the best way to issue/redeem BTCS and ETHS?
BTC and ETH are held separately in collateral accounts at Prime Trust managed by Stably’s FinCEN-registered subsidiary for the benefit of BTCS and ETHS token holders. Prime Trust holds digital assets in cold-stored vaults provided through Fireblocks, a FinCEN-registered MSB and MPC wallet provider. Collateral assets are not invested or loaned out by either Stably or Prime Trust.
Below are the monthly account statements for the BTCS and ETHS collateral accounts at Prime Trust:
BTCS Monthly Statements
ETHS Monthly Statements