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What is ZEN USD (ZUSD)?
What is ZEN USD (ZUSD)?
Updated over a week ago

Overview

ZEN USD (symbol: ZUSD) is a fully-backed stablecoin created by Stably in collaboration with the Horizen Labs team. The collateral of ZUSD is held in liquid USD-denominated assets—including bank deposits, money market instruments, and USDC—by a designated trustee for the benefit of ZUSD token holders. Every ZUSD token can be minted or redeemed 1-to-1 with USD or USDC (minus fees) by users who are KYC-verified by Stably.

Administered by Stably’s Wyoming-based registered money service business subsidiary, ZUSD is issued natively on the Horizen EON network in compliance with FinCEN’s convertible virtual currency guidance (FIN-2019-G001), including BSA/AML regulations and OFAC sanctions. Additionally, periodic attestations will be performed by an independent attestor to verify that every ZUSD token in circulation is backed 1-to-1 with collateral (more information).

How to Mint & Redeem ZUSD

Individual and business users worldwide can now onboard from 170+ countries/regions to mint/redeem ZUSD on EON through a variety of payment methods such as ACH, Fedwire, Visa, and Mastercard, plus other popular stablecoins on major networks (e.g., USDC). All of this is accessible through Stably Ramp, a powerful on/off-ramp widget that can also be embedded into third-party applications such as Web3 wallets and DeFi protocols. Through Stably Ramp, users can easily buy, sell, or swap digital assets, including ZUSD, using stablecoin and fiat payments for as low as 0.5% in transaction fees (excluding gas).

  • STEP 1: Navigate to ramp.stably.io, click on the "☰" icon, then click on "Login/Signup"

  • STEP 2: Log in with your credentials or open a new account

  • STEP 3: Once logged in, you can now place an order to mint, redeem, or swap ZUSD

    • Mint (buy) with fiat: Click here for instructions

    • Redeem (sell) with fiat: Click here for instructions

    • Swap with other digital assets: Click here for instructions


To learn more about Stably, visit our website.


RISK DISCLAIMER: Digital assets involve significant risks, including (but not limited to) market volatility, cybercrime, regulatory changes, and technological challenges. Past performance is not indicative of future results. Digital assets are not insured by any government agency and holding digital assets could result in loss of value, including principal. Stablecoins (e.g., USDS) and bridged assets (e.g., BTCS) involve additional risks, such as technical challenges, security vulnerabilities, reliance on third-party custodians, and dislocation of market prices relative to the underlying collaterals. Please conduct your own thorough research and understand potential risks before purchasing/holding digital assets. Nothing herein shall be considered legal or financial advice. For more information about the risks and considerations when using our services, please view our full disclaimer.

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