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Explore the world of stablecoins with confidence
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Bernie Bilotta
•
March 20, 2023
At Stables, we want you to explore the world of stablecoins with confidence, so security is embedded in everything we do. But how exactly do we guarantee you peace of mind when using the Stables wallet? We're glad you asked!
TLDR of our philosophy around security:
- 💰 We do not commingle & rehypothecate your funds
- 🪙 Your balance is always held in USDC on Polygon
- 🔎 Your balance is always auditable and available on-chain
- 🤝 We use Multi-Party Computation (MPC) cryptographic technology
- 📀 We don't store your IDs and personal data
- 😊 We use end-to-end encryption and biometrics authentication
- 🚨 24/7 platform monitoring & customer support
How do we approach security?
Is my personal data secured?
We never store your IDs on our servers and have partnered with Onfido, a SOC 2 Type II compliant and ISO 27001 certified, to provide identity verification checks and handling your data in the most robust and secure manner possible.
How can I make sure my funds are always available?
We do not commingle, rehypothecate, or use your funds in any way. Instead, we hold all funds in USDC on Polygon, a stablecoin that is backed 1-to-1 by the USD. Your unique stablecoin wallet is always auditable on-chain - numbers on a screen are backed 1:1 by digital assets in your wallet. We ecourage you to don’t take our word for it though, verify it for yourself!
How do you secure my stablecoins?
We understand that managing a 24-word recovery phrase can be challenging, which is why we use MPC cryptographic technology. This technology allows a 'key' to be split between different parties. We use Fireblocks, a trusted digital asset custody provider that is ISO and SOC2 certified to help us store part of those keys. So even if you lose access to your device, your balance is always safe and accessible to you, whenever you wish.
What else do you do to ensure security of my stablecoins?
We use end-to-end encryption and biometrics authentication to secure your wallet, which provides protection against unauthorized access and block any transaction that it isn’t initiated by you.
Also we have set up our infrastructure with 24/7 monitoring to detect any suspicious activity. In case of any alerts, we are proactive in our approach to security and prioritize the safety of your assets above everything else.
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© Stables Group 2024
The "Stables Group" is powered by a number of companies throughout the world.These companies include, but is not limited to: Stables Money Global Pte Ltd, 2 Venture Drive #19-18, Vision Exchange, Singapore 608526; Stables Australia, powered by Tiiik Pty Ltd (ACN 639 448 490) a company incorporated in Australia; Stables Europe, (KRS #0001027447), incorporated in Warsaw, Poland, a member of the European Union (EU); Stables Asia, is a company located at Unit 1603, 16th Floor, The L. Plaza, 367 - 375 Queen's Road Central, Sheung Wan, Hong Kong; and Stables Limited, a company incorporated in Abu Dhabi Global Market (ADGM).
Note more companies and jurisdictions are gradually coming online - watch this space.
The Stables Group is collectively referred to as “Stables”, “Tiiik”, “we”, “us” and “our” in these General Terms of Use, other customer disclosure documents our App and on our websites.
Stables powered by Tiiik Pty Ltd ACN 639 448 490 is a registered Digital Currency Exchange (DCE) provider with AUSTRAC - DCE100780083-001. Tiiik is also registered as an independent remittance dealer with AUSTRAC - IND100780083-001. Tiiik Pty Ltd is also a member of the Australian Financial Complaints Authority (AFCA), member number 109771.
Stables Europe, located at 22B Bartycka Street, Unit 21A, Warsaw, postcode 00716, Poland is a Virtual Asset Service Provider (VASP), KRS National Register No: 0001027447, entered into the Poland Virtual Currency Business Activity Register on 6th April 2023.
Stables Money® is a registered trademark, and the coin design is a trademark of Stables Group.
The Stables Send product is issued by Odyssey Capital Funds Management Ltd ACN 116 172 395 (AFSL 297283) (“Issuer”) and distributed and administered by Tiiik Pty Ltd trading as Stables ACN 639 448 490 (AFS Representative No. 001308192). You should consider the Product Disclosure Statement, Financial Services Guide and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you."
The Stables Card Mastercard® powered by Tiiik Pty Ltd is issued by EML Payment Solutions Limited ABN 30 131 436 532, AFSL 404 131 ("Issuer"), and is managed by Mastercard Prepaid Management Services Australia Pty Ltd ABN 47 145 044, AFSL 386 837. Stables powered by Tiiik Pty Ltd is a Corporate Authorised Representative of Mastercard Prepaid Management Services since 10th November 2022. You should consider the Product Disclosure Statement and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you.
* Subject to any surcharge that may be imposed directly by merchants. Currently the Stables Card cannot be used in the following countries and geographical regions due to sanctions that are currently in place: Crimea, Iran, North Korea, Sudan, Syria, Donetsk and Luhansk. If you attempt to use your card at merchants in any of these countries and geographical regions, your request will be declined. Additionally, all Mastercards will not work at Russian merchants. In addition, the POS terminals are not owned or operated by the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd and the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd are not responsible for ensuring that merchants will accept the Stables Card. For example, the Issuer and Mastercard Prepaid Management Services Australia Pty Ltd cannot control when a POS terminal is due for maintenance or is faulty of if a merchant chooses not to accept the Stables Card. In such cases, your Stables Card may not function properly or be declined. For more information please see the Product Disclosure Statement.
** Some merchants may charge their own fees and set their own limits.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
The "Stables Group" is powered by a number of companies throughout the world.These companies include, but is not limited to: Stables Money Global Pte Ltd, 2 Venture Drive #19-18, Vision Exchange, Singapore 608526; Stables Australia, powered by Tiiik Pty Ltd (ACN 639 448 490) a company incorporated in Australia; Stables Europe, (KRS #0001027447), incorporated in Warsaw, Poland, a member of the European Union (EU); Stables Asia, is a company located at Unit 1603, 16th Floor, The L. Plaza, 367 - 375 Queen's Road Central, Sheung Wan, Hong Kong; and Stables Limited, a company incorporated in Abu Dhabi Global Market (ADGM).
Note more companies and jurisdictions are gradually coming online - watch this space.
The Stables Group is collectively referred to as “Stables”, “Tiiik”, “we”, “us” and “our” in these General Terms of Use, other customer disclosure documents our App and on our websites.
Stables powered by Tiiik Pty Ltd ACN 639 448 490 is a registered Digital Currency Exchange (DCE) provider with AUSTRAC - DCE100780083-001. Tiiik is also registered as an independent remittance dealer with AUSTRAC - IND100780083-001. Tiiik Pty Ltd is also a member of the Australian Financial Complaints Authority (AFCA), member number 109771.
Stables Europe, located at 22B Bartycka Street, Unit 21A, Warsaw, postcode 00716, Poland is a Virtual Asset Service Provider (VASP), KRS National Register No: 0001027447, entered into the Poland Virtual Currency Business Activity Register on 6th April 2023.
Stables Money® is a registered trademark, and the coin design is a trademark of Stables Group.
The Stables Send product is issued by Odyssey Capital Funds Management Ltd ACN 116 172 395 (AFSL 297283) (“Issuer”) and distributed and administered by Tiiik Pty Ltd trading as Stables ACN 639 448 490 (AFS Representative No. 001308192). You should consider the Product Disclosure Statement, Financial Services Guide and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you."
The Stables Card Mastercard® powered by Tiiik Pty Ltd is issued by EML Payment Solutions Limited ABN 30 131 436 532, AFSL 404 131 ("Issuer"), and is managed by Mastercard Prepaid Management Services Australia Pty Ltd ABN 47 145 044, AFSL 386 837. Stables powered by Tiiik Pty Ltd is a Corporate Authorised Representative of Mastercard Prepaid Management Services since 10th November 2022. You should consider the Product Disclosure Statement and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you.
* Subject to any surcharge that may be imposed directly by merchants. Currently the Stables Card cannot be used in the following countries and geographical regions due to sanctions that are currently in place: Crimea, Iran, North Korea, Sudan, Syria, Donetsk and Luhansk. If you attempt to use your card at merchants in any of these countries and geographical regions, your request will be declined. Additionally, all Mastercards will not work at Russian merchants. In addition, the POS terminals are not owned or operated by the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd and the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd are not responsible for ensuring that merchants will accept the Stables Card. For example, the Issuer and Mastercard Prepaid Management Services Australia Pty Ltd cannot control when a POS terminal is due for maintenance or is faulty of if a merchant chooses not to accept the Stables Card. In such cases, your Stables Card may not function properly or be declined. For more information please see the Product Disclosure Statement.
** Some merchants may charge their own fees and set their own limits.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.