Bitcoin to launch its first USD-pegged stablecoin, details here

The latest BRC-20 token though, could prove to be a game changer for the Ordinals landscape and, consequently the Bitcoin network.Stablecoin-as-a-Service provider Stably announced the launch of Stably USD, the first USD-backed stablecoin on the Bitcoin blockchain.

Basically, the BRC-20 token aims to become the preferred mode of payment for traders transacting Ordinals and other BRC-20 assets. It is denoted by the sign #USD. By facilitating low-friction on-ramping/off-ramping services and retaining a stable value, #USD has the potential to make trading smooth and easier.

Every #USD token is backed 1:1 by USD kept in a collateral account. The account is managed by a U.S.-regulated custodian for the benefit of KYC/AML-verified token holders. #USD can be issued/redeemed via multiple platforms like Fedwire, SWIFT, USDC, and USDT by KYC-verified users across 200+ countries/regions.Ordinals refuse to lose steam, the total number of Ordinals inscriptions went beyond 9 million at the time of writing, with a staggering 6.5 million, or about 70% of them, getting minted in May.dashboard highlighted that out of the total fees collected by miners in the last 24 hours, Ordinals trading accounted for 30%.

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