Stable.com, founded by former Consensys employees, launches stablecoin USD3

According to the financial technology company Stable.com founded by former Consensys employee Jack Jia, a new 1:1 supported stablecoin USD3 will be launched on Ethereum, Polygon, Avalanche, and Linea. USD3 aims to provide developers and enterprises with interoperable trading methods and simplify DApp integration.

Co-CEO Jack Jia said in an interview that Stable.com is a regulated financial institution in the United States with a wide compliance plan developed by industry veterans. USD3 will always be supported by US dollars or equivalent cash at a 1:1 ratio and will undergo regular internal and external audits to ensure transparency and compliance.

It also stated that although the global regulatory environment is gradually improving, the regulation of stablecoins and cryptocurrencies is still not clear enough. A strong and clear regulatory framework is crucial for the long-term success of stablecoins. (Cointelegraph)