Project Spotlight: Stably

Feb 21, 2024

As blockchain technology reshapes finance and Web3 gains momentum, the need for seamless fiat-to-crypto gateways grows increasingly important. 

Stably, a Seattle-based web3 infrastructure provider, aims to be the leading fiat onramp in the industry.

By combining compliance, visionary leadership, and strategic partnerships, Stably unlocks new avenues for bridging traditional finance with blockchain's potential. 

The company's developments highlight the integral role of fiat onramp as blockchain technology progresses.

We recently sat down with Stably CEO, Kory Hoang, to learn more about his motivations and future plans.

Meet Kory Hoang: The CEO Onramping the World to Web3

Behind every great startup is an ambitious founder. Kory Hoang, co-founder and CEO of Stably, immigrated to the United States from Vietnam as a child. 

After serving 10 difficult years in a re-education camp following the Vietnam War, Kory's grandfather immigrated to the US in the late 80s and, more than a decade later, brought Kory along with the rest of his family to America for new beginnings.

Growing up in Kent, Washington, Kory developed a passion for finance. He worked as a bank teller at Bank of America while attending the University of Washington Bothell, where he graduated with degrees in Finance and Marketing. 

As CEO of Stably, Kory oversees fundraising, product development, business deals, marketing efforts, and regulatory compliance. He co-founded Stably in 2018 with CTO David Zhang after recognizing the need for stablecoins beyond Tether. Their shared interest in trading algorithms and quantitative strategies led them to launch Stably's USDS stablecoin.

Now based in Seattle, Kory travels to Vietnam often to meet with Stably's partners and team members there. He maintains a strong connection to his birth country while leading Stably's mission to ramp the world onto Web3.

Introducing Stably: The Leading Web3 Fiat Onramp

Stably offers regulatory-compliant fiat onramp solutions for Web3 applications looking to provide easy crypto purchases and sales. 

Through their leading product, Stably Ramp, users across 170+ countries can securely buy, sell, and swap over 130 digital assets over 15+ blockchain networks.

Projects can embed Stably Ramp’s plug-and-play interface to provide a seamless fiat-to-crypto experience directly within their platforms. 

Frontend users simply create an account, complete KYC, and immediately transfer fiat currencies to stablecoins or crypto assets. 

Competitive rates and low fees make Stably Ramp a go-to for anyone looking to bridge traditional finance with the opportunities of web3.

Bringing a Compliant Stablecoin and Enhanced Liquidity MetaChain

Two prominent crypto projects, Stably and Coin98, have put forth an ambitious CFP proposal set to expand accessibility and liquidity on DeFiChain’s MetaChain (EVM) layer.

The proposed Coin98 and Stably collaboration aims to launch CUSD – a regulatory-compliant, fiat-backed MetaChain native stablecoin.

The two projects will combine to enable CUSD purchases directly through Stably's Fiat Onramp platform. Users could soon seamlessly buy CUSD with traditional payment methods and use it to swap for other digital assets.

Additionally, interest generated from CUSD's collateral reserves would go toward rebate programs benefiting DeFiChain’s community fund. This unlocks new potential grant capital to incentivize builders and accelerate development.

CUSD would also unlock native liquidity mining programs on MetaChain DEXs. More assets with liquidity pools mean more free listings for Stably Ramp and greater asset availability for traders.

Leveraging Coin98’s large user base and Stably’s compliant infrastructure, CUSD has the makings of a ready-made stablecoin tailored to enhance MetaChain’s capabilities and reach. 

If approved, more developments around CUSD and MetaChain should emerge through future proposals.

Final Words

Stably aims to be a leading fiat onramp in the Web3 space. Its collaboration with Coin98 highlights its mission to enhance blockchain infrastructure and accessibility through compliant stablecoins.

As the web3 space rapidly expands, Stably's reliable fiat gateways will be integral in powering the next crypto wave.

Want to find out more about Stably? Follow Stably on X(Twitter) for up-to-date information, or check out their website.


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