Unlimit has launched Stable.com, a decentralized clearinghouse built specifically for stablecoins, the fintech company said in a press release on Tuesday.
The firm said the service is the first to pair unreleased stablecoin swaps with direct global off-ramps, aiming to make dollar-pegged tokens more convenient and easier to use.
Stable.com lets users trade between major stablecoins without gas fees or commissions while maintaining full control of their money.
By connecting these decentralized rails to Unlimit’s global payment network, the platform enables conversions to local currencies across more than 150 markets and through over 1,000 payment methods, in an effort to remove friction and custody risks common to legacy crypto platforms.
Stablecoins are cryptocurrencies linked to assets such as fiat currencies or gold. They underpin much of the crypto-economy, acting as rails of payment and a tool for moving money across borders.
A clearing house is a financial intermediary that stands between buyers and sellers to settle trades, manage counterparty risk and ensure that transactions are carried out smoothly.
Unlimit framed the platform as an attempt to streamline a stablecoin market that has become increasingly fragmented. By bringing major tokens under one interface and connecting them to established fiat payment rails, Stable.com could make stablecoins easier to use in routine transactions, the company said.
Kirill Eves, CEO and founder of Unlimit, said stablecoins were a new “extension of the US dollar” and a growing tool in global trade, in the release. He added that Stable.com is designed to bridge decentralized finance (DeFi) with traditional financial systems.
Unlimit, founded in 2009, serves tens of thousands of businesses and more than a billion users. Its global licensing and payments footprint, the company said, gives Stable.com the regulatory and infrastructural backing to launch as a full-fledged platform rather than a pilot.
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