What is USD1 [Old]?

USD1 is a stablecoin within the Kinesis ecosystem, designed to maintain a 1:1 peg with the US dollar. It operates on both the Stellar and ERC-20 blockchains, facilitating secure, rapid, and cost-effective transactions.

The coin is fully backed by over $15 billion in reserves and emphasizes transparency through monthly attestations. USD1 is integrated into the Kinesis platform, which offers additional functionalities within its ecosystem.