SEATTLE, WA – Stably and Cohen & Company have announced the launch of a new website, STABLEINSIGHT powered by Cohen & Company. The site is dedicated to providing transparent reporting to the stablecoin market.
Cohen & Company’s website allows stablecoin issuers, investors, regulators, and market participants to verify and compare the number of tokens in circulation to the amount of fiat collateral held to ensure transparency and a 1:1 ratio. Having Cohen & Company’s STABLEINSIGHT website acts as a supplement to the already rigorous measures taken by stablecoin issuers to ensure up-to-date and accurate reporting.
Stably recognizes that stablecoins require a high standard of public transparency for consumers and businesses to build trust. As a result, Stably has engaged with Cohen & Company, one of the fastest growing accounting firms in the country, to conduct monthly attestations and verify that the entire supply of issued tokens is consistent with assets held in reserve accounts managed by Stably’s regulated trustee partners. Users may also view a live report of the reserve accounts via Stably’s partners' APIs when they open a Stably account. Stably’s own USDS stablecoin and CADX, its enterprise client’s stablecoin, are also the first tokens to be featured on STABLEINSIGHT. Both USDS and CADX are powered by Stably’s stablecoin technology under its Stably Enterprise division.
Cohen & Company provides attestations on the reserve on the last day of every month. Every attestation that has been published since the launch of USDS can be viewed below.
About Cohen & Company
Named one of the fastest growing accounting firms in the country, Cohen & Company offers assurance, tax and advisory services to clients throughout the U.S. and worldwide. The firm serves a broad range of clients, from privately held companies and their owners; to public and private funds, advisors and fund service providers within the investment industry; to Fortune 1000 multinational enterprises. Cohen & Company was founded in 1977; has more than 650 associates in Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania and Wisconsin; and has an international presence in the Cayman Islands and Ireland. Learn more at cohencpa.com.
Stably is a fast growing FinTech company from Seattle founded in April 2018 by a team of former bankers and Amazon software engineers. The company has raised close to USD $3 million to date from angel investors as well as leading venture capital firms like 500 Startups, BEENEXT and Pay It Forward. Stably is also the creator of USDS, a US Dollar-backed stablecoin featured on major crypto exchanges like Binance and Bittrex. Stably’s mission is to make financial transactions faster, cheaper and more transparent through a borderless digital money platform powered by blockchain, stablecoins and open banking APIs. For more information, please visit www.stably.io.
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