According to Odaily, Stable.com, a fintech company founded by former Consensys employee Jack Jia, is launching a new 1:1 stablecoin, USD3. The new stablecoin will be available on Ethereum, Polygon, Avalanche, and Linea platforms. USD3 aims to provide developers and businesses with interoperable transaction methods and simplify DApp integration.
In an interview, co-CEO Jack Jia stated that Stable.com is a regulated financial institution in the United States, with a comprehensive compliance plan developed by industry veterans. USD3 will always be backed 1:1 by the US dollar or equivalent cash and will undergo regular internal and external audits to ensure transparency and compliance.
Jia also mentioned that despite the gradual improvement of the global regulatory environment, 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.