SBC
Stable Coin
Overview
SBC is a digital dollar stablecoin issued by Brale. It is redeemable one-to-one for U.S. dollars and was created as an example of combining the best of centralized finance with decentralized protocols.
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Fiat-backed. Redeemable one-to-one for US dollars.
Summary
Stable Coin (SBC) is a fiat collateralized stablecoin designed to keep backing assets safe and maintain liquidity for redemptions.
SBC was created to serve as an example of leveraging decentralized protocols to extend functionality in the existing financial system. It emphasizes redeem-ability, regulatory compliance, and transparency in line with established central finance practices. SBC is currently in closed alpha.
Attestations
Brale asserts that the balance of treasury assets is equal to or greater than the tokens issued, as of the following dates and as detailed below.
Attestations
Balance as of September 30, 2023
Monthly Reserve Reports
Monthly reports are issued by an independent accounting firm to provide assurance that the value of stablecoin reserves are equal to the amount in circulation. Reports are prepared according to the attestation standards of the American Institute of Certified Public Accountants (AICPA).