UBYX: Putting the "Stable" in Stablecoins to Make Them Ubiquitous
Stablecoins users are intimidated by the number of chains and exchange prices.
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This is simply the best idea yet to help stablecoins go mass-market. It's simple: Connect stablecoins directly to your bank account.
Let’s face it. Most new stablecoin users are intimidated by using different blockchains and variable off-ramp and on-ramp exchange prices, greatly inhibiting mass market adoption.
Regulated stablecoins will need a substantial infrastructure rebuild if they are to go mainstream in the US, despite the crypto world's boasts that they are “good to go.” They most definitely are not.
Enter Ubyx, which will eventually become Unbiquity—created by digital currency legend and Citibank veteran Tony Mclaughlin.
Tony and his team are proposing an ingenious association scheme that would need backing from banks and stablecoin issuers. This clearinghouse scheme would enable a single clearing platform to deposit stablecoins into existing financial accounts.
Users would be issued a digital wallet connected to their account, which would allow them to use stablecoins directly attached to their bank. This is exactly the technology required for stablecoins to go mainstream.
The key to the scheme is that all stablecoins on the platform would be valued at par (1:1 with the dollar or other currency). Because all regulated stablecoins are equal on the platform, users will become indifferent as to exactly which stablecoin they receive, creating conditions for " ubiquity.”
The use of par redemption eliminates stablecoin variability and maintains "the singleness of money.” Coins that do break 1:1 peg are covered by issuers maintaining pre-funded settlement accounts maintained at settlement banks.
The easiest way to understand the Ubyx concept is to consider each stablecoin as a check, proving that all that is old is new again.
Receiving a stablecoin means that it goes through the clearinghouse, just like checks. And just like checks, the stablecoin value is separated from the issuer and valued at par. Bounced checks and depegged coins are worked out behind the scenes.
Users don’t care what stablecoin they get, what network it's on, or its market price, as they are all valued at par.
This is likely to be the next big thing. Watch Tony and Ubyx carefully!
If you are a bank, consider joining!
👉Why Ubyx Works:
🔹 Ubyx creates mutualized acceptance: A single, low-cost connection gives issuers global access to a unified redemption network.
🔹 Ubyx makes stablecoins cash equivalents: Enables stablecoins from many issuers & currencies to be deposited directly into users ’ existing bank or fintech accounts at par value.
🔹 Ubyx solves for "singleness of money": Makes stablecoins interchangeable among themselves and other fiat currency forms, ensuring practical utility and regulatory clarity.
🔹 Ubyx promotes regulated off-ramps: Redemption through regulated institutions ensures AML, KYC, sanctions compliance, and fraud prevention.
🔹 Ubyx creates non-interest income for issuers: Enables issuers to systematically earn fees from receiving institutions, safeguarding the stablecoin issuer’s business model against interest-rate fluctuations.
🔹 Ubyx reinforces peer-to-peer transactions: Realizing crypto’s original vision, enabling people to transact confidently peer-to-peer and hold stablecoins in native digital form.
🔹 Ubyx reduces uncertainty: The Ubyx trust mark signals universal acceptance and confidence.
🔹 Ubyx helps stablecoin stability: Creates market-based arbitrage opportunities reinforcing stablecoins ' price stability under varied market conditions.
🔹 Ubyx drives stablecoin acceptance by TradFi: Provides traditional financial players with a compelling economic incentive and straightforward pathway to integrate stablecoins from multiple issuers and blockchains.
🔹 Ubyx strengthens crypto exchanges: Increases liquidity and institutional access, enabling exchanges to efficiently engage with numerous stablecoin issuers on one platform.
🔹 Ubyx serves as a gateway to Web3 acceptance: Traditional finance players integrating via Ubyx can readily expand into tokenized assets, DeFi, and digital identity solutions.
🔹 Ubyx drives stablecoin ubiquity: Establishes a new market structure enabling exponential positive network effects between issuers, institutions, and end users.
🔹 Ubyx is self-determination: The industry asks for prudent regulation but should not require it every time a coordinated response is required to community issues.
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