Leading Stablecoin Issuers & Crypto Firms Embrace International Set Of Stablecoin Standards

London,
United
Kingdom,
October
9th,
2024,
Chainwire

• Stablecoin
  Standard’s
  newly
  introduced
  set
  of
  global
  standards
  receives
  endorsement
  from
  a
  number
  of
  stablecoin
  issuers,
  including
  GMO-Z.com
  Trust
  Company
  (‘GMO
  Trust’),
  StraitsX
  and
  BiLira,
  that
  offer
  G10
  currencies
  including
  JPY,
  SGD,
  TRY
  &
  USD
• Standards
  also
  endorsed
  by
  top
  ecosystem
  participants
  including
  Fireblocks,
  Solana,
  Bitstamp,
  Zodia
  Markets
  and
  JST
  Digital

Stablecoin
Standard,
the

industry
body
for
stablecoin
issuers
globally,
today
announced
that
their
recently
unveiled
set
of
global
standards
for
stablecoin
issuers
have
been
endorsed
by
some
of
the
leading
stablecoin
issues
and
ecosystem
participants
in
the
industry.
Among
those
who
have
endorsed
are
Archblock, BiLira,
Bitstamp,
GMO-Z.com
Trust
Company
(‘GMO
Trust’),
JST
Digital,
Fireblocks,
Solana
Foundation,
StraitsX
and
Zodia
Markets,
signaling
a
new
era
of
cooperation
and
standardization
within
the
stablecoin
industry.

The
standards,
announced
by
Beth
Haddock,
Global
Policy
Lead
at
Stablecoin
Standard,
at
the
Annual
Flagship
Event
in
Singapore,
were
designed
to
promote
operational
resilience,
transparency
and
consistent
issuer
commitments
globally.
Stablecoin
Standard’s
Policy
Working
Group
created
the
high-level
standards
that
are
both
general
and
actionable,
while
being
sensitive
to
the
innovation
in
the
market. 

Beth
Haddock,
Global
Policy
Lead
at
Stablecoin
Standard,
commented
on
the
endorsements:
“Their
endorsement
not
only
validates
the
rigor
of
our
proposed
framework
but
also
underscores
the
importance
of
creating
a
stable,
transparent,
and
resilient
environment
for
digital
currencies.
This
milestone,
following
discussions
at
our
annual
meeting,
sets
a
strong
foundation
for
the
continued
evolution
of
the
ecosystem.”

The
endorsement
of
the
standards
lays
the
groundwork
for
a
stablecoin
ecosystem
that
prioritizes
transparency,
security
and
consumer
protection.
With
increased
scrutiny
from
regulators
and
growing
demand
for
digital
assets,
unified
standards
can
provide
clarity
and
assurance
to
both
industry
participants
and
the
public.
Stablecoin
Standard’s
new
framework
aims
to
accelerate
the
adoption
of
stablecoins
by
fostering
greater
confidence
among
consumers,
regulators,
and
traditional
financial
institutions.  

Ramy
Soliman,
Co-Founder
of
Stablecoin
Standard,
commented
on
the
endorsements:
“The
endorsement
of
our
global
standards
by
leading
stablecoin
issuers
such
as,
BiLira
and
ecosystem
participants,
including
industry
leaders
like
Solana,
Zodia
Markets
and
JST
Digital,
is
a
vital
step
toward
establishing
a
unified,
trusted
framework
for
the
entire
sector.
As
stablecoins
continue
to
redefine
the
future
of
digital
payments,
these
standards
will
provide
the
foundation
for
long-term
growth,
transparency,
and
security.
This
collective
commitment—solidified
during
discussions
at
our
annual
meeting—not
only
underscores
the
industry’s
dedication
to
fostering
innovation
but
also
demonstrates
a
concerted
effort
to
align
with
evolving
regulatory
expectations
and
build
the
consumer
trust
essential
for
stablecoins
to
thrive
globally.”

Stablecoin
Standard
and
its
endorsing
members
plan
to
continue
refining
these
standards
for
implementation
with
the
goal
of
achieving
industry-wide
adherence
by
Q4
2025.

Quotes
from
Endorsers:

Sinan
Koç,
Co-founder
and
CEO
of
BiLira,
commented
on
their
endorsement,
“As
a
stablecoin
issuer,
BiLira
has
always
prioritized
transparency,
security,
and
adherence
to
high
standards,
which
is
why
we
are
proud
to
endorse
the
Stablecoin
Standard’s
newly
introduced
set
of
global
standards.
TRYB
is
governed
with
a
commitment
to
uphold
these
principles,
which
we
believe
are
essential
for
fostering
trust
and
stability
in
the
rapidly
evolving
digital
asset
space.
We
support
this
initiative
as
a
significant
step
towards
a
more
resilient
and
unified
stablecoin
ecosystem.”

Ran
Goldi,
SVP
Payments
and
Network
at
Fireblocks, commented
on
their
endorsement,
“With
more
than
a
dozen
stablecoins
issued
on
Fireblocks,
we
strongly
believe
standards
are
the
right
path
for
our
ecosystem
with
regard
to
interoperability
and
reaching
the
holy
grail
of
instant
liquidity
any
time,
anywhere.
SCS
is
taking
a
big,
bold
step,
and
we
proudly
endorse
and
stand
with
them
on
this
journey.”

Kenny
Chan,
Head
of
StraitsX,
commented
on
their
endorsement,
“As
one
of
the
leading
regulated
stablecoin
issuers
in
Asia,
StraitsX
is
committed
to
upholding
the
highest
standards
of
transparency
and
operational
resilience.
We
are
proud
to
support
the
Stablecoin
Standard’s
newly
introduced
global
standards,
which
will
help
build
greater
trust
in
the
stablecoin
ecosystem
and
ensure
that
digital
currencies
can
be
securely
and
seamlessly
adopted
by
businesses
and
consumers
worldwide.
By
working
collaboratively
with
key
industry
participants,
we
believe
these
standards
will
provide
a
strong
foundation
for
the
future
of
stablecoins,
promoting
innovation
while
ensuring
compliance
with
evolving
regulatory
frameworks.”

About
Stablecoin
Standard

Stablecoin
Standard
(SCS)
is
the
industry
body
focused
on
setting
operational,
transparency,
and
product
related
standards
for
stablecoins.
The
SCS
plans
to
achieve
industry
wide
standards
by
sharing
international
best
practices,
business
development
use
cases,
forming
industry
led
working
groups
defining
what
a
high-quality
liquid
stablecoin
should
look
like,
and
engaging
with
policymakers
domestically
&
internationally.
The
SCS
ecosystem
consists
of
over
30
advisory
board
members,
industry
partners
and
issuers
that
offer
digital
currencies
in
global
jurisdictions
such
as
the
US,
EU,
Singapore,
Australia,
and
Turkey
–
among
others.

Users
can
follow
the
Stablecoin
Standard
on

LinkedIn
and

X
and
to
learn
more,
please
visit:

https://stablecoinstandard.com/

Contact

Kevin
McGrath
[email protected]