Article Summary, Automatically Generated By AI
Summary of Stable Coin
-
Stablecoin (SBC)
: a fully backed digital dollar stablecoin issued by Brale, a registered MSB and licensed money transmitter in the U.S. -
Redeemable 1:1
for U.S. dollars, designed to keep backing assets safe and maintain liquidity for redemptions. -
Multi-chain compatible
: deployed on Ethereum, Avalanche, Polygon, Celo, Base, Optimism, and Stellar. -
Backed by
: cash, cash equivalents, and U.S. treasuries held with regulated financial institutions. -
Launched
: alpha launched on 3/08/2023
About Stablecoins
Introducing Stablecoin (SBC), a fully backed digital dollar stablecoin issued by Brale, a registered Money Services Business (MSB) and licensed money transmitter in the United States. With a 1:1 redemption ratio for U.S. dollars, SBC is designed to ensure the safekeeping of backing assets and maintain liquidity for seamless redemptions.
SBC is a versatile, multi-chain compatible stablecoin, strategically deployed across a diverse range of blockchain networks, including Ethereum, Avalanche, Polygon, Celo, Base, Optimism, and Stellar. Notably, SBC is collateralized by a robust reserve comprising cash, cash equivalents, and U.S. treasuries, all of which are securely held with reputable, regulated financial institutions, and is engineered to accommodate multiple issuers.
SBC debuted in alpha on March 8, 2023, and presently boasts a market capitalization of $6,544,066, fully collateralized by a 1:1 fiat reserve backing.
Brale’s team has spent over a decade developing regulated financial products. Notably, during their tenure at Dwolla, they played a pivotal role in pioneering Banking-as-a-Service (BaaS), thereby facilitating tens of billions of dollars in transaction volume annually for a user base exceeding 10 million. The Stable Coin was conceived to synergistically merge the best practices of centralized systems with the innovative potential of decentralized protocols.
A stable coin is now accessible for issuance and redemption at Brale, and is also available for trading on Uniswap.