Explore the world of stablecoins with confidence

Bernie Bilotta
• Publilshed
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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