Moneybrain BiPS Digital Dollar Stablecoin
The Moneybrain BiPS Digital Dollar (USDB) is a stablecoin that tracks the price movement of the US Dollar. Dollars and overnight Money Market Funds or equivalent are held in custody at a regulated bank or accredited regulated custodian to provide 1:1 backing for USDB. Trading with USDB is similar to trading the USD and the prices are pegged to each other.
IMPORTANT:
The stablecoin USDB is a fiat-backed token representing USD value. When acquiring USDB you should not expect a return or any increase in value. The stablecoin is designed to be stored and used as a digital payment currency via the Public Ethereum Blockchain or Peer-to-Peer within the Moneybrain centralised app and web platform. Moneybrain Global Ltd promise to pay a fixed exchange rate of $1 BiPS equivalent for $1 USDB and will do so under its Jersey Financial Services Commission (JFSC) Virtual Asset Services Provider (VASP) registration and BiPS can then be exchanged to Fiat GBP 1:1 and withdrawn to whitelisted bank accounts.
To buy USDB you first need to purchase the Moneybrain native currency BiPS. BiPS can then be exchanged for USDB within seconds for a one-off transaction fee of €0.01 BiPS equivalent.
You can exchange the following currencies for BiPS with the following trading pairs.
Fiat:
GBP/BIPS EUR/BIPS USD/BIPS
Stablecoin:
BIPS/GBPB, BIPS/USDB, BIPS/EUROB, BIPS/USDC, BIPS/EURC
Crypto:
BIPS/GBPB, BTC/BIPS, ETH/BIPS, XRP/BIPS, ADA/BIPS, UNI/BIPS, BCH/BIPS, LTC/BIPS, PAXG/BIPS
The exchange and custody of USDB is administered by Moneybrain Global Ltd. Moneybrain Global Ltd is Registered with the Jersey Financial Services Commission as a Virtual Asset Service Provider. Registration Number: SCH-7011