10/4/2024
Archblock

Archblock Launches New Fiat-Backed Stablecoin, 1USD

Archblock Stablecoins is excited to announce the launch of a new fiat-backed stablecoin, 1USD. Anchored to the US Dollar, the stablecoin stands as a testament to Archblock’s technology, which is revolutionizing the exchange medium, offering frictionless and secure transactions across borders and empowering seamless global commerce. Renaissance Ambition AG, a subsidiary of Archblock, is the issuer of 1USD and the stablecoin will initially be available on Ethereum and Aleph Zero.

Aleph Zero is a privacy-focused layer-1 blockchain. 1USD offers Aleph Zero network users the stability of a stablecoin while ensuring that their financial activities and data remain confidential. The partnership between Archblock Stablecoins and Aleph Zero bridges the gap between the transparency of blockchain technology and the privacy expectations of traditional banking, and creates an ideal environment for a wide range of business applications and use cases.

Archblock Stablecoins are built with transparency and regulatory compliance at the forefront. We ensure transparency and equal access to information by partnering with third parties for external, real-time attestations. Archblock’s aim is to use web3 enabled systems to democratize financial solutions that have historically been available only to those with access to traditional banking institutions. Whether investing in digital assets on-chain or transacting with businesses that accept digital currencies, our stablecoins offer a more efficient and cost-effective option.

Designed to overcome the limitations of traditional banking systems, Archblock is committed to leveraging the global potential of blockchain technology. Initially created as a secure and trusted on-and-off ramp for on-chain investors, Archblock’s stablecoin offering has evolved. It now serves as the foundation for next-generation financial services, taking advantage of blockchain’s immutability and efficient settlement processes. Stablecoins enable 24/7 transactions, promote financial inclusion, and reduce the friction and costs associated with traditional banking, allowing users to transact easily around the world.

The Archblock Stablecoins portfolio is accessible across multiple blockchains and exchanges. It is available to all users who meet applicable KYC/AML requirements. 1USD is currently only available to users residing outside of the United States.

About Archblock Stablecoins

Archblock is expanding access to financial opportunities and global trade with its Archblock Stablecoins portfolio and Archblock Marketplace. Archblock Stablecoins offers the technical and operational foundation to build white-label stablecoins for others, and operates a portfolio of fiat-backed stablecoins. For more information about Archblock Stablecoins, please contact Archblock at support@archblock.com.

Archblock Launches New Fiat-Backed Stablecoin, 1USD was originally published in Archblock on Medium, where people are continuing the conversation by highlighting and responding to this story.

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