What’s better than a dollar-backed stablecoin? To Stably, it’s a meta-dollar-backed stablecoin.
The company announced earlier in November it was taking on tether (USTD) with its new stableUSD (USDS). Now, Stably says in a blog post, it plans to develop a separate meta-stablecoin for institutional traders “built with a basket of several different stablecoin projects” as its reserve.
“Besides USDS, the other stablecoins in the basket contemplated have not yet been selected,” the company said. “As we continue to develop this meta-stablecoin, we will carefully monitor the market and evaluate the right stablecoin projects to include in our basket.”
The company did not say when this meta-stablecoin will be released.