Fintech company Stable.com announced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players
USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone. It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.
USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.
Jack Jia, Co-CEO of Stable.com, commented: “USD3 is fast, accessible, and secure, and provides developers and businesses with a reliable, low-cost means of transacting, as well as access to a range of payment tooling for enhanced utility. It’s a stablecoin that can flow freely around the globe and seamlessly connect to global payment systems. We are bringing a new approach to stablecoins, not just to today’s world, but are delivering a product for the future. We learned from the mistakes of previous players and know what they lack today – our vision for USD3 is future-proof. We are not just ready to take on the current industry leaders – our plan is to reach mass adoption of our stablecoin and become a base for a new global payments system.”
Jamal Rees Chief Commercial Officer at Stable.com said that “Our unique crypto-fintech stack will streamline payments, USD access, trading & settlements, and more for businesses around the world and empower the creation of new and exciting financial use cases. We’re bringing the benefits of Web3 to payments, using our deep industry knowledge to fill the gap left by incumbent Stablecoin providers and create an ecosystem that allows stablecoins to have genuine real-world impact. USD3 will ultimately enable individuals and businesses to enjoy a robust financial management experience, with low transaction fees and fast settlements, 24/7, no matter where in the world they are.”