Stably Blog

StableUSD Mainnet Launch



Today, Stably is proud to announce that StableUSD (USDS) has successfully launched on the Ethereum mainnet. USDS is an ERC-20 token and can be found on etherscan here.


Etherscan token tracker


For those unfamiliar with StableUSD, it is a fiat-collateralized stablecoin. This means that every StableUSD token is fully backed 1-to-1 by a US dollar. This model requires transparency to verify that Stably’s reserve has the money to back all the StableUSD tokens in circulation. To learn more about StableUSD, read our FAQ.

With this launch, 100,000 USDS have been minted. Below is a screenshot of Stably’s current reserve account showing that there is at least $100,000 to back the 100,000 USDS tokens. These tokens are for internal testing purposes before the public launch.


Stably’s current reserve account


To maintain transparency, Stably will have quarterly reserve audits and frequent attestations conducted by a Big Four accounting firm. Additionally, Stably’s website will have a ‘Transparency Dashboard’ that will show Stably’s current reserve bank balances.


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All asset custody, funds processing, convertible virtual currency administration, trustee and fiduciary services are provided by Prime Trust, a Nevada chartered financial institution and licensed trust company. Digital assets are held in secure cold storage and USD funds are held in FDIC-insured bank accounts by Prime Trust. Stably is not a licensed financial institution and Stably does not manage nor take custody of client funds. Prime Trust neither endorses nor guarantees any of the information, recommendations, optional programs, products, or services advertised, offered by, or made available through the external website ("Products and Services") and disclaims any liability for any failure of the Products and Services.