How Ubyx works
Download the whitepaper
Ubyx is a straightforward system that makes redeeming stablecoins as simple as depositing a check. Here’s how it functions:
Network membership
Issuers and receiving institutions join by agreeing to the Ubyx rulebook and connect to the Ubyx platform through standard APIs.
Customer setup
Banks and fintechs provide their customers with hosted digital wallets that support all participating stablecoins across all supported blockchains.
Pre-funded certainty
Stablecoin issuers maintain dedicated cash reserves at the designated settlement banks, ensuring all redemptions can be honored. These are part of an issuer’s existing reserves—–no additional reserves are required.
Compliance
Multiple layers of compliance checks occur at the receiving institution, settlement bank, and issuer levels.
Settlement bank set up
Each issuer and receiving institution holds wallets and cash accounts at the Ubyx appointed settlement banks/custodians in each currency.
User experience
Customers are provided with blockchain addresses to receive stablecoins on different networks, and can easily convert them to their bank account.
Redemption flow
a. When a customer deposits stablecoins, they’re checked by their own institution and routed to the issuer for verification.
b. Upon acceptance by the issuer, funds move from the issuer’s pre-funded account to the receiving institution’s cash account.
c. The customer’s bank account is credited with the full value of their stablecoins in the currency of their choice.
​Ubyx is designed for global interoperability:
Multi-issuer:
All regulated issuers can join Ubyx subject to agreed rulebook criteria
Multi-blockchain:
Works across all participating blockchain networks and scaling solutions
Download the whitepaper
Multi-currency:
Supports stablecoins denominated in any participating national currency
Multi-jurisdiction:
Connects financial institutions worldwide into a single network
