Stabolut launches new Bitcoin-backed, decentralized Stablecoin, USDB
Introducing a dollar-pegged, Bitcoin-backed stablecoin, built without reliance on banks. Available on a private beta starting today, USDB, a stablecoin that has been built in a revolutionary approach that will redirect the crypto markets and unlock new opportunities for fast and easy trades for power exchanges, financial institutions, enterprises, developers and users.
HONG KONG, March 29, 2023 (GLOBE NEWSWIRE) — Stabolut, a startup building a brand new worldwide payment ecosystem and the issuer of USDB, announced today that it has just launched a fully decentralized, dollar-pegged stablecoin called USDB . Available from today, March 29, 2023, USDB is a stablecoin issued under a groundbreaking model that is built on decentralized pillars of trustless infrastructure and security that have made Bitcoin the world’s most reliable and trusted cryptocurrency.
USDB is entering a very hot market, as stablecoins total NOK 140 billion in capitalization, which is currently expected to grow to at least NOK 1 trillion. At the same time, opinion leaders in crypto have called for a truly decentralized and privacy-preserving stablecoin that everyone in the industry can trust, set up with verified and audited assets, and invulnerable to shutdowns.
“Stabolut is setting the new industry-leading standards for moving financial value across the internet and crypto markets with USDB,” said Eneko Knorr, co-founder and CEO of Stabolut. “There is clear market demand from users for a reliable stablecoin choice, given the collapse of UST -Terra Luna’s stablecoin-, as well as witnessing the recent instability caused by the de-pegging of USDC following the recent bank failures we have seen this year. With USDB, Help us unlock a new era of transparent, privacy-preserving, fast, affordable, secure and interoperable exchange around the world.” said Julian Beltran, co-founder and CTO of Stabolut.
For a truly decentralized economy, a decentralized currency is essential. In May 2022, Stabolut started the development of USDB, a Bitcoin-backed stablecoin designed to reflect the value of the US dollar through an innovative method: shorting Bitcoin via a Bitcoin inverse perpetual swap. Asset-backed USDB eliminates the need for bank accounts, ensures immunity from crashes or frozen funds, and strengthens complete privacy and resilience. Fiat-backed stablecoins face centralization and regulatory hurdles, which limit access and innovation while increasing counterparty risk and reducing user privacy. USDB’s approach aligns with Bitmex co-founder Arthur Hayes’ Nakadollar (NUSD) concept.
“Our solution addresses the limitations of fiat-backed stablecoins, which suffer from centralization and regulatory challenges. By reducing counterparty risk and improving user privacy, we aim to expand accessibility and promote innovation in the stablecoin market.” said Eneko Knorr.
The USDB will drive cross-chain transactions and on-chain exports across all ecosystems and beyond, providing users and exchanges with a global stable coin where they can take power back from the Western financial system and interact with their money on their own terms no matter where or who they are. USDB will work broadly with Bitcoin-compatible wallets, protocols and other blockchain services.
To learn more about the USDB stablecoin, visit the Stabolut website.
About Stabolut:
Stabolut is a company that builds a complete ecosystem for payments across the globe. Started by serial entrepreneurs with broad experience in technology and crypto, Stabolut is the issuer of USDB stablecoin, a digital currency ready to solve all the problems and concerns other stablecoins have, with a clear goal to become one of the most widespread. used stablecoins. Stabolut received funding from the co-founders of Dextools.io, an ecosystem with 30 million monthly visits that allows traders to track information on all the decentralized markets. Learn more: www.Stabolut.com
Media contact:
Eneko Knorr
[email protected]
+1 (415) 940-1029
Stabolut LLC
www.Stabolut.com
