Here at Wyre, we are on a mission to lower the barriers to entry for fintech-crypto entrepreneurs by offering them compliant ports into a regulated fiat world. As part of this ongoing effort, today, we are excited to introduce USDS to the Wyre ecosystem!
A bit of background on adding new tokens: Wyre began working on fiat on/off-ramping for the crypto space, focused intensely on adding value to a few specific token ecosystems. Bitcoin and Ether were the first two tokens, and then we became one of the first on-ramps for DAI and later added USDC support.
As an infrastructure company, it only makes sense for Wyre to add tokens that we believe offer our network of partners unique capacities or create unparalleled growth opportunities. Needless to say, the bar is high. Today we are delighted to announce the addition of Stably’s USDS stablecoin to the Wyre ecosystem!
Stably, a stablecoin company saw a need for lightweight merchant processing and set about to fill this gap. Using the stablecoin, USDS, merchants gain access to Stably Prime, a borderless account for global transactions that enables instant redemption of USDS to USD through their 24/7 settlement network. By integrating with Wyre’s Card Processing API, Stably has dramatically improved its merchant’s end-user onboarding experience, lowering costs, and increasing the usability of USDS for their merchants.
At Wyre, we believe this is a big step for both Staby and the crypto space as it’s a powerful example of using crypto to layer centralized services such as PrimeX & Wyre in a compliant yet distributed way to solve real problems for real merchants and users.
USDS is the first addition of a handful of stablecoins added to the Wyre API over the coming weeks. If you are curious enough, you might find hints of the others in our API… Happy hunting!
