NFTs: What They Are, How They Work, and What They’re Being Used for
NFTs are the latest iteration of blockchain technology to garner press attention outside the world of digital assets and finance. ...
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DISCLAIMER: Stably Corporation (“Stably”) is a blockchain and financial technology service provider, not a bank, with a registered address at 16192 Coastal Hwy, Lewes, DE 19958, USA. Stably Trading LLC (“ST”), a wholly owned subsidiary of Stably, is a FinCEN-registered money service business (MSB) with registration number 31000251219597 and a registered address at 10 E Pearl Ave Suite 200, Jackson, WY 83001, USA. Stably’s fiat orchestration partner, Bridge Building Inc. (“Bridge”), is a FinCEN-registered MSB with registration number 31000252673675 and a registered address at 1501 Hillmon St, Austin, TX 78704, USA.
Blockchain-connected products and services offered by Stably and ST are built on top of Bridge’s infrastructure via manual and automated integrations, leveraging its financial services including but not limited to: fiat custody, funds processing, virtual currency exchange, convertible virtual currency (CVC) administration—as defined by FIN-2019-G001—plus Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance services. Bridge is not an FDIC-insured institution but it works with FDIC-insured banks to hold US dollars (USD).
Stably Ramp (“Stably Ramp”) is a non-custodial fiat-to-crypto on and off-ramp platform that enables a verified account holder (“User”) to mint/redeem stablecoins as well as buy/sell stablecoins and other digital assets using fiat and blockchain payment methods. Fiat payments are processed by Bridge and blockchain transactions may be processed by Bridge, Stably, ST, or LI.FI (“LI.FI”), a decentralized exchange and token bridge aggregator. Only Users whose identities and funding sources are verified by Stably, ST, and/or Bridge for compliance with its terms and policies, including BSA/AML programs, are allowed to mint/redeem or buy/sell stablecoins and digital assets with Stably Ramp. Deposits and disbursements to/from a Stably Ramp account to third parties other than the account User are prohibited.
Stably USD (also known as “Stably Dollar” or “USDS”) is a multichain stablecoin fully backed with liquid USD-denominated assets such as cash, cash equivalents, and/or stablecoins. The collateral assets are held by Bridge and/or ST for the benefit of verified USDS token holders, including white-label versions of USDS like VechainThor VeUSD. Bridge and/or ST are the CVC administrators of USDS and its white-label versions. USDS and its white-label versions are not FDIC-insured. Every USDS token, including its white-label versions, may be minted/redeemed 1-to-1 with USD or USDC according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably BTC (also known as “Stably Bridged Bitcoin” or “BTCS”) is a cross-chain Bitcoin (BTC) bridged token fully backed with BTC held by ST for the benefit of verified holders of natively-issued BTCS tokens. ST is the CVC administrator of BTCS. Every BTCS token may be minted or redeemed 1-to-1 with BTC according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably ETH (also known as “Stably Bridged Ethereum” or “ETHS”) is a cross-chain Ethereum (ETH) bridged token fully backed with ETH held by ST for the benefit of verified holders of natively-issued ETHS tokens. ST is the CVC administrator of ETHS. Every ETHS token may be minted or redeemed 1-to-1 with ETH according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably reserves the right to deny, suspend or terminate any User’s usage of Stably Ramp, BTCS, ETHS, USDS and its white-label versions, if Stably deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations, or best practices.
Digital assets involve significant risks, including (but not limited to) market volatility, cybercrime, regulatory changes, and technological challenges. Past performance is not indicative of future results. Digital assets are not insured by any government agency and holding digital assets could result in loss of value, including principal. Stablecoins (e.g., USDS, USDC) and bridged assets (e.g., BTCS, WBTC) involve additional risks, such as technical challenges, security vulnerabilities, reliance on third-party custodians, and dislocation of market prices relative to the underlying collaterals. Please conduct your own thorough research and understand potential risks before purchasing/holding digital assets. Nothing herein shall be considered legal or financial advice. For more information about the risks and considerations when using our services, please visit stably.io/terms-of-service.
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