Stably provides faster, cheaper, secured and borderless asset-backed stablecoins on the blockchain, connecting real assets to the digital economy. The co-founder David Zhang shares more details about Stably in an exclusive interview with TechBullion.
1) Please tell us more about yourself?
My name is David Zhang and I’m a co-founder of Stably! My passions have always been in financial markets and technology, so getting the opportunity to make an impact on the cryptocurrency and blockchain space is something I look forward to every day. Before Stably I traded equity derivatives and wrote software, sometimes at the same time! One of my biggest pain points was how difficult it was to get software and money to work together, and that’s because the existing financial system is not natively digital! When Bitcoin came around and showed the world that a game theoretically sound model for natively digital currency was possible it became a whole new ball game, because digital money means programmable money.
2) What is Stably and how are you connecting real assets to the digital economy?
Stably started as a humble USD stablecoin company but we’ve realized that the potential for real asset pegged cryptocurrency (or stablecoins) is so much bigger than that. We help connect the existing financial world to the emerging blockchain based one not only by providing stablecoins which represent those real assets in cryptocurrency form, but also by providing people who are not familiar with the technology easy, secure, and compliant ways of getting into this new asset class.
3) Stably offers a series of asset-backed stablecoins such as Stably USD (USDS) on the Blockchain for Faster, Cheaper, Secured and Borderless transactions, how does this work?
Stably USD (or USDS) is our US Dollar backed stablecoin and the first product we launched. We launched USDS on Ethereum and Binance Chain with plans to expand onto other protocols as the ecosystem matures. Each blockchain protocol provides its own advantages and disadvantages so the best protocol to use will depend on what you’re trying to do. Regardless of the protocol of choice the inherent decentralized nature of blockchain protocols means they are more secure and borderless than traditional financial rails. Many blockchain protocols are almost free to use and settle funds in seconds rather than days.
4) Stably Prime offers secured borderless accounts for global financial transactions, could you tell us more about this?
Stable Prime marries the best of the traditional financial system with cutting edge blockchain and cryptocurrency technology. We provide easy ways for people to interact with both worlds and by leveraging the borderless nature of blockchain protocols are able to offer easy ways to store and send money for anyone around the world!
5) Stably Enterprise helps you launch your own brand of compliant stablecoins, how does this work?
Cryptocurrency and stablecoins can help businesses increase distribution by reaching new customers, increase retention by extending the reach of their ecosystem, and reduce cost by leveraging next generation financial rails. At Stably we have accumulated a wealth of knowledge around the technological, regulatory, and adoption hurdles of cryptocurrency and asset tokenization. By leveraging our technology stacks and legal frameworks we can help businesses unlock value in weeks rather than the months it would take for them to do it on their own.
6) People are finding it more confusing, complicated, and intimidating to trade cryptocurrencies, could you tell us more about Stably’s use cases and how you can simplify crypto transactions?
Stably believes that the transition to blockchain and cryptocurrency will be an evolution of the way we interact with and think about money, rather than the revolution that so many in the space claim. This means that oftentimes we will incorporate more traditional approaches that customers are already familiar with rather than forcing them to learn a whole new workflow. Stably Prime is our product aimed at this very problem.
7) Are there any available opportunities for investors in Stably?
At Stably we’re always busy building the future of finance but we wouldn’t be where we are today without the strategic and financial support of our investors and advisors! If you share Stably’s vision feel free to reach out to me (firstname.lastname@example.org) or our CEO Kory (email@example.com) and we’d love to chat with you!
8) Could you tell us about your partners and team of experts at Stably?
We believe that success and broader adoption for cryptocurrency and blockchain takes a village. We work closely with other blockchain protocols, DeFi projects, cryptocurrency exchanges, traditional enterprises, and many more to help realize this vision. Our team is filled with those who have the rare gift of seeing the future and believe in Stably enough to spend their time with us. If that sounds like you, we are always happy to chat, just email us firstname.lastname@example.org and tell us a bit about yourself!
9) How safe is Stably, would you like to talk about your legal and security measures?
At Stably the security of our customers’ funds and compliance with local and federal law are always top of mind. We audit any code that touches customer funds using third party auditors and only work with regulated financial institutions.
10) Do you have more information for our readers?
At Stably we’re always excited about the future of money and are always looking for like-minded partners. If you or your business could be a good fit send us an email at email@example.com!