Binance Chain welcomes a stablecoin and prepares to issue one of its own

In a blog post, Stably, a venture-capital backed startup, announced that it will be launching its StableUSD (USDS) token on the Binance protocol. Dubbed USDS.B, it will the first stablecoin to launch on Binance Chain allowing other projects under the network to establish transparent and liquid on-chain trading pairs.

Stably has chosen the binance chain to develop its new stablecoin because it provides a vast number of benefits including, “improved security, ease of use, and speed of transaction,” said a representative from the company. These characteristics will allow one-second block confirmation time and several thousand transactions per second.

A sum of 90 billion tokens backed 1:1 with US dollar reserves will be issued, but the entirety of the tokens will be moved into a treasury wallet and the supply will be frozen. Every time there is a freeze or unfreeze of USDS.B, it will be reported under this thread for transparency.

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