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Binance DEX welcomes its first stablecoin—StableUSD Binance DEX welcomes its first stablecoin—StableUSD Mitchell Moos · 5 years ago · 1 min read
🚨 This article is 5 years old...
News ▸ ▸ Stablecoins

Binance DEX welcomes its first stablecoin—StableUSD

Mitchell Moos
Jun. 23, 2019 at 11:48 pm UTC
1 min read
Updated: Mar. 5, 2022 at 2:22 am UTC
Binance DEX welcomes its first stablecoin—StableUSD

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Seattle-based Stably had its flagship StableUSD listed on Binance DEX as a native BEP2 crypto-asset—USDSB.

The addition opens up opportunities for on-chain trading on the DEX, providing traders with an additional tool for hedging against volatility or redeeming their crypto for fiat. A stablecoin on Binance DEX also opens up a host of algorithmic and automated trading strategies.

CryptoSlate reached out to Kory Hoang, the CEO and founder of Stably, for comment on the listing:

“The launch of Stably’s stablecoin on Binance DEX will usher in a new age of adoption and growth for DeFi, especially decentralized exchange trading. We are beyond excited for this opportunity and look forward to continue our close cooperation with Binance as well as the Binance community.”

StableUSD was listed on Binance’s main trading platform in February. The exchange will open trading for USDSB/USDT and USBSB/USDS on June 24, 10:00 AM UTC.

StableUSD is created through Stably and issued by Prime Trust, a Nevada-chartered trust that acts as the regulated administrator for USDS and its DEX equivalent USDSB.

Each USDS token is backed one-to-one and redeemable for U.S. dollars. Unlike Tether, which has restrictive issuance and redemption criteria—anyone can create or redeem USDSB, as well as swap these tokens for the ERC20 USDS equivalent, by submitting a support ticket through Stably.

Users can custody USDSB on Binance.com, or self-custody their tokens using Trust Wallet or another wallet that supports the BEP2 token standard.

Trade USDSB on Binance.com or on Binance DEX.

Mentioned in this article
Binance Stably Kory Hoang
Posted In: , DEX, Stablecoins
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Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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In this article

Binance

Exchange Company in Asia, Europe

Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.

More about Binance

Stably

Stablecoin Issuer, Technology Company in North America

Stably is a fast growing FinTech company from Seattle founded in 2018 by a team of former bankers and Amazon software engineers.

More about Stably

Kory Hoang

CEO & Co-Founder at Stably

Kory Hoang is the founder of Stably, a leading cryptocurrency company.

More about Kory Hoang
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