Blog2021-07-28T10:58:44-08:00

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  • Bitcoin, Satoshi Nakamoto, blockchain, crypto. Proof of Work

What is Bitcoin?

July 4th, 2021|General|

If you have watched the news recently, you’ve probably heard the word Bitcoin. But just ...

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DISCLAIMER: Stably Corporation (“Stably”) is a blockchain and financial technology service provider registered in Delaware (File No. 7223458). Stably provides technology and services to Prime Trust LLC (“PT”), a Nevada-chartered trust company (License No. TR10035), and First Digital Trust Ltd. (“FDT”), a Hong Kong-chartered trust company (License No. TC006771). Blockchain-connected products/services offered by Stably (or offered by others using Stably’s solutions) are built on top of PT’s and FDT’s infrastructure through manual and API integrations, leveraging their traditional financial services including (but not limited to) traditional and digital asset custody, trading, payments, convertible virtual currency administration, escrow, trustee and compliance services. Stably is not a licensed bank or financial institution and Stably does not handle client funds at any time. Stably Dollar (also known as “Stably USD” or “USDS”) is a multi-blockchain US Dollar (USD) stablecoin backed with FDIC-insured USD and/or US Treasury instruments held in a trust (“USDS Trust”) managed by PT for the benefits of USDS token holders (“USDS Holders”). PT is the regulated trustee and official USDS issuer/administrator. USDS tokens themselves are not FDIC-insured. Stably Prime (powered by Prime Trust) is a self-directed custodial account offered by PT through Stably (also known as a “stablecoin account”). Custody support for Stably Prime includes both FDIC-insured USD and digital assets which are not FDIC-insured. USD funds held by PT are deposited with a network of custodian banks syndicated through Reich & Tang Deposit Networks, LLC (“Reich & Tang”). Reich & Tang is a New York-based financial technology company (File No. 0803744526) and not a bank. FDIC insurance is provided to participants through FDIC-insured banks that participate in a program sponsored by any Reich & Tang affiliate. Only USDS Holders and Stably Prime users verified by PT for Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance are allowed to deposit funds into or redeem/withdraw funds from the USDS Trust and Stably Prime accounts. Third-party deposits into Stably Prime accounts are prohibited. PT reserves the right to deny, suspend or terminate anyone’s participation in the USDS Trust and/or usage of Stably Prime accounts if PT 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. Nothing contained herein shall be considered financial advice or recommendation to buy/sell any security, commodity, cryptocurrency or any other financial instrument. Investing has many risks, including risk of losses beyond principal investment. Past performance is not indicative of future results.

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