Stably has developed Stably USD (USDS), a stablecoin pegged 1:1 to the U.S. dollar that is minted when users deposit $1 and redeemed when users return 1 USDS. The company holds a cash reserve backing the tokens and earns “flat income” on that reserve. Stably positions USDS as a medium of exchange and store of value for cryptocurrency traders and as a rail for faster, cheaper remittances and borderless payments. CEO Kory Hoang says the long-term vision includes enabling everyday crypto payments and providing an alternative in hyper-inflationary economies. The company employs nine people and expects to grow following the new funding. Total funding to date is $1.7 million.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2019