Stably USD (USDS) is a multichain US Dollar stablecoin redeemable 1-to-1 for USD or USDC. The collateral of USDS is held in bank deposits, money market instruments, and USDC by our regulated money service business (MSB) partner or a designated trustee for the benefit of verified USDS token holders. Additionally, periodic attestations shall be performed by an independent attestor to verify that every USDS token in circulation is fully backed with collateral.
Since 2018, we have expanded USDS to multiple blockchain networks, including Chia Network and Polymesh, with more coming soon in the future.
With USDS, anyone in the world can easily on-ramp from fiat to crypto, settle payments or cross-border remittances near-instantly, and interact with popular Web3 applications.