Fintech company Stable.com has announced the launch of the USD3 stablecoin in a bid to offer some competition to current industry players. USD3 is designed as a US-dollar extension for global commerce and Web3.

It is the first stablecoin developed with a programmatic layer and offers a comprehensive suite of payment capabilities and tools. The stablecoin is intended to serve as a digital, tokenized representation of fiat money for developers around the world, facilitating the development of protocols, smart contracts infrastructures, and blockchain applications. It also aims to provide an interoperable, safe, and trustworthy solution that can be leveraged by everyone and simplify the lives of developers while accelerating fund movements within the industry towards a more open financial system.

Businesses are expected to leverage USD3 to streamline global payments and improve access to crypto capital markets. The stablecoin will launch on Ethereum, Polygon, Avalanche, and Linea, and will receive support from various ecosystem leaders. In the official press release, representatives from Stable.com emphasised that USD3 is designed to be fast, accessible, and secure, offering developers and businesses a reliable and cost-effective means of transacting, along with access to a range of payment tools for enhanced utility.

They also highlighted the stablecoin's ability to flow freely around the globe and seamlessly connect to global payment systems, positioning it as a product for the future with a vision for mass adoption and serving as a base for a new global payments system. Stable.com representatives further highlighted the company's crypto-fintech stack, which aims to streamline payments, USD access, trading, settlements, and more for businesses worldwide. They also talked about the company's commitment to bringing the benefits of Web3 to payments and filling the gap left by incumbent stablecoin providers.

In essence, USD3 aims to help individuals and businesses enjoy a robust financial management experience with low transaction fees and fast settlements, irrespective of their location. A word on regulation According to Blockchain Magazine, USD3’s largest challenge is the ongoing regulatory uncertainty that looms over stablecoins. Governments around the world are looking for ways to regulate these digital assets, with concerns ranging from money laundering to financial stability.

The same source reveals that this uncertainty can deter investors and make it difficult for businesses to build robust applications around stablecoins. To overcome these obstacles, Stable.com aims to prioritise compliance with existing regulations and to obtain the necessary licences. .