USDS is a stablecoin created by Stably, built upon the FA2 token standard, and issued by Prime Trust, a Nevada-chartered trust company that is also the regulated administrator for USDS. Stablecoins are cryptocurrencies that typically maintain a peg to national currencies on blockchains like Tezos — i.e. digital cash. Regulated, fiat-backed stablecoins like USDS are fully backed by physical reserves of fiat money and can be redeemed at a 1:1 ratio.
USDS avoids the price volatility of traditional cryptocurrencies, while still retaining many of their useful characteristics such as low-cost, high-speed transactions and cross-border payments without the high fees of credit card processors or money transfer companies.