Renowned digital finance infrastructure provider Virtual Assets Lab (VAL.com) has announced today the official launch of its next-generation stablecoin management and wallet platform.
This marks a notable development in the digital finance landscape, as the platform promises to provide users with secure, compliant, and customizable stablecoin management and wallet solutions.
While Virtual Assets Lab is on a mission to advance the digital finance ecosystem further, the platform boasts an average rating of 4.5+. It has achieved over $100 billion in managed transactions and over one million mobile app installations across 180+ countries.
In a bid to ensure compliance and transparency, the platform also revealed that it has released its flagship stablecoin line dubbed, “1Currencies”.
Following its design, 1Currencies features a comprehensive suite of G10 currencies, beginning with 1USD. The platform believes that 1USD will offer cutting-edge features and attractive economics and help ensure compliance and security, as over 99% of stablecoin transactions are in USD.
Bill Wolf, Co-Founder of Virtual Assets Lab and former Managing Director at Goldman Sachs, HSBC, and Credit Suisse, remarked on the debut of 1Currencies, saying,
“Our vision with 1Currencies is to bring compliance, security, transparency, and shared economics to stablecoins, starting with the world’s most widely used currency…1USD is just the beginning – each currency in the 1Currencies suite will empower users with better economics and seamless interoperability across the financial landscape.”
Apart from being proven at scale, Virtual Assets Lab will offer flexible pricing with shared economics while supporting G10 cryptocurrencies.
In addition, the platform aims to provide flexibility and promote financial inclusion. It is also highly customizable, easy to integrate, and offers robust support services, enabling more efficient onboarding and ongoing management.
Per the announcement, Virtual Assets Lab will offer users a streamlined way of creating and managing wallets via its new mobile app. Users can access stablecoins and establish self-sovereign IDs (SSIs) backed by verified credentials. This aims to enhance security and privacy.
It is important to note that the platform is licensed and registered across various jurisdictions and utilizes secure back-end cross-chain transferability and high security due to its partnership with trusted custodians.