Weekly Stablecoin Roundup #7

Categories: EducationalPublished On: October 24th, 20180.9 min read

10.15 → 10.21

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Top Cryptocurrency Exchange OKEx Lists Four Stablecoins at Once

Crypto Payment Platform BitPay Introduces Settlement in Stablecoins

Dubious nature of Tether [USDT]: Stablecoin slips 5%

World’s Largest Crypto Exchange Binance Looks to Add New Stablecoins

Bitcoin Romania Issues Stablecoin

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Stably USD (also known as “Stably Dollar” or “USDS”) is a multi-blockchain US Dollar stablecoin backed with USD held in a trust (“USDS Trust”) managed by PT for the benefit of BSA/AML-verified holders of USDS and other USDS white-label tokens (“USDS Holders”). PT is the USDS Trust’s regulated trustee. PT is also the regulated CVC administrator of USDS and other USDS white-label tokens collateralized by the USDS Trust. PT may only place trust funds with FDIC-insured banks as cash or in short-term US Treasury instruments. USDS and USDS white-label tokens are not FDIC-insured. Every USDS or USDS white-label token may be minted or redeemed 1-to-1 with USD according to Stably’s terms of service, minus fees, through a Stably Account.

Stably BTC (also known as “Stably Bitcoin” or “BTCS”) is a multi-blockchain Bitcoin (BTC) bridged token backed with BTC held in a collateral account managed by PT for the benefit of BSA/AML-verified holders of BTCS and other BTCS white-label tokens (“BTCS Holders”). ST is the regulated CVC administrator of BTCS and other BTCS white-label tokens backed by the collateral account. Every BTCS or BTCS white-label token may be minted or redeemed 1-to-1 with BTC according to ST’s terms of service, minus fees, through a Stably Account.

Stably ETH (also known as “Stably Ether” or “ETHS”) is a multi-blockchain Ether (ETH) bridged token backed with ETH held in a collateral account managed by PT for the benefit of BSA/AML-verified holders of ETHS and other ETHS white-label tokens (“ETHS Holders”). ST is the regulated CVC administrator of ETHS and other ETHS white-label tokens backed by the collateral account. Every ETHS or ETHS white-label token may be minted or redeemed 1-to-1 with ETH according to ST’s terms of service, minus fees, through a Stably Account.

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