Stablehouse trading begins for digital assets
Bermuda-based fintech company StableHouse has announced the early-access launch of its regulated and licensed digital assets platform, which allows users to begin trading and investing in a wide range of cryptocurrencies and stablecoins.
StableHouse, which said that it offers transparent, sustained rates with higher limits on small and large deposits, as well as no tie-in, clear terms and high-interest returns, added that an introductory rate of 12 per cent is available on any fiat-based stablecoin deposits of up to $100,000 in US dollar equivalent, with interest paid in kind.
Michael Chauliac, president of StableHouse, said: "Our mission is to empower everyone to benefit from the new world of finance, making it easier to understand and take advantage of.
“We believe that crypto technology will fundamentally transform finance for the better. As such, our vision is to merge crypto with everyday finance and act as a safe space for anyone to achieve financial growth."
Founded by the XBTO crypto finance company team, StableHouse said, its leadership includes experts in market-making and wealth management. The company said that it works with trusted partners who make strategic, considered investments into a range of asset classes to create greater value for the users' holdings.
Philippe Bekhazi, chief executive officer of StableHouse and XBTO, said: "StableHouse is reinventing digital-asset trading for users through a more personal approach. We want to cut out the noise and jargon and make investing in digital assets simple, secure and rewarding.
“We truly believe StableHouse's approach to digital-asset trading will offer more opportunities for high-interest returns. Above all, we want all of our users to be comfortable, confident and informed when making digital-asset investments."
StableHouse said that its security and compliance standards ensure that funds are stored with a high degree of protection. Its institutional-grade infrastructure also ensures continued availability of digital assets, it said.
In October, StableHouse said, it closed a seed funding round of $12 million, with investments secured from Coinbase Ventures, the investment arm of Coinbase, the cryptocurrency exchange; Dragonfly Capital, the VC focusing on crypto asset investment; and Liberty City Ventures, the New York-based, technology-focused venture capital firm.
Murtaza Akbar, of Liberty City Ventures, said: “Stablehouse resides at a critical intersection of the cryptocurrency ecosystem. With authorisation and regulatory oversight by the Bermuda Monetary Authority, international clients can be confident in transacting at this junction.
“As stablecoins proliferate and market participants choose to conduct borrowing and lending in natively crypto products, Stablehouse will be a leading platform for financial transactions and the preferred entry point for international crypto asset markets."
To request early access to the platform, StableHouse said, prospective users should register on StableHouse.io.
Invitations to join the platform will be issued to eligible applicants via e-mail.
StableHouse Ltd was issued with a Class M licence by the BMA under the Digital Asset Business Act on January 23 for a period of one year.
Under the licence, the company’s permitted business activities operate as a payment service provider business utilising digital assets which includes the provision of services for the transfer of funds, and operating as an electronic exchange.