As a researcher with experience in the blockchain and cryptocurrency industry, I find the launch of USD3 by Stable.com, co-founded by Jack Jia, an intriguing development. Jia’s background as a former employee of Consensys and his current role as co-CEO of Stable.com adds credibility to the project.
As a crypto investor, I’m excited about the latest development in the stablecoin market: USD3, a new stablecoin backed by Stable.com. This innovative project was co-founded by Jack Jia, who previously worked at Consensys. USD3 is designed to be 1:1 pegged to the US dollar or its equivalent in cash, providing developers and businesses with a seamless and integrated solution for transactions and implementing DApps. USD3 will be available on several blockchains, including Ethereum, Polygon, Avalanche, and Linea.
As a researcher, I would describe USD³ as a one-to-one US dollar extension at your service. It makes global payments and access to cryptocurrency markets easier for businesses on various platforms such as Ethereum, 0xPolygonDeFi, Avalanche, Avalanche X-Chain, and many more major networks. Soon to be available on these platforms, USD³ is designed to simplify your financial transactions and expand business opportunities.
— Stable.com (@Stabledotcom) May 29, 2024
Jack Jia, the co-CEO of Stable.com, shared insights into how they tackle challenges in their project valued at approximately USD3. He emphasized that Stable.com holds a financial services license in the US and adheres to rigorous compliance measures set by industry professionals. Although it’s a new and groundbreaking initiative, transparency and trustworthiness of the USD3 investment will be maintained through internal and external audits.
Jia and his fellow CEO Jamal Rees, formerly Unlimit’s Head of Stablecoins, discussed ongoing regulatory challenges. They highlighted that while international legislation has advanced, there remains uncertainty regarding the specific regulation of stablecoins and other cryptocurrencies. Jia emphasized that clearer guidelines for stablecoin regulation are essential for their future growth and longevity.
At Stable.com, our goal is to create the foundation for bringing users worldwide into the USD3 network at affordable costs and minimal fees, with a variety of payment methods available. This initiative follows the suggestion of Farcaster’s co-founder Dan Romero, who advocated for a stablecoin payments application among US-based freelance workers, demonstrating the need for more stablecoin applications in diverse industries.
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2024-05-30 00:52