Increased Competition for Tether as Another Stablecoin Goes Live Offering Better Transparency-7.26

Stably has launched its fiat-collateralized stablecoin – StableUSD (USDS). Potential clients can participate in the early access to purchase and redeem the USDS tokens tethered to the US Dollar

The startup announced the launch via a post on its medium account. According to the announcement, the stablecoin utilizes a centralized model to peg its token 1 to 1 to the US Dollar. Like other stablecoins, the USDS tokens will help crypto traders preserve value in the face of market volatility. However, Stably envisions a future where its tokens will facilitate cross-border payments. The stablecoin will serve as an alternative for government-backed currencies in developing countries.

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