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Testnet only: a reference implementation, not a production service. Tokens and bank transfers here are simulated and have no value.
Stablecoin ReferenceSign up on Testnet
A reference issuer, running on Stellar Testnet

Issue a dollar stablecoin. Watch every step.

A complete, open issuer on Stellar Testnet: a bank wire becomes tokens in a wallet, tokens move and redeem, and the reserves behind them are signed for anyone to check.

Try it on TestnetCheck the reserves
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Transcript

Stablecoin Reference shows how a fiat-backed stablecoin is issued on Stellar, from the bank wire to the signed reserves. Northwind asks to mint 250,000 USDX to its Treasury wallet, and gets a wire reference. The wire arrives at the mock bank, and its reference matches the mint. Reserves are checked, the payment is signed, and USDX lands in Treasury with a transaction hash on the ledger. From there, USDX moves like any Stellar asset: Treasury pays Partner A, wallet to wallet. To redeem, Northwind sends tokens to a one-time address; they're burned, and the mock bank pays out the dollars. Anyone can compare supply with reserves, and check the report's signature themselves.

Built in the open, shown on film

  • Capabilities live on Testnet36
  • More on the roadmap8
  • Films of the real console12
  • Ways in, by role6
How it works

Follow one dollar from a bank wire to a wallet and back

  1. A wire arrives

    Its reference matches a mint request.

  2. USDX is minted

    Only after reserves are checked.

  3. It lands in a wallet

    With a transaction hash on the ledger.

  4. It moves

    Wallet to wallet, like any Stellar asset.

  5. It's burned

    Sent to a one-time address to redeem.

  6. Dollars go out

    Only after the burn is confirmed.

See how it works, step by step

What it does

The four jobs of an issuer, all running

Issuance

Issue

Turn wires into tokens, with reserves and headroom checked on every mint.

Payments

Move

Send only to proven wallets and hear about every change through signed events.

Operations

Operate

The back office an issuer needs, where every action carries a reason.

Transparency

Prove

Supply and reserves at a stated ledger, signed for anyone to check.

Running right now

Loading the Testnet figures

Transparency

Don't trust the reserves. Check them.

  1. The report

    Supply and reserves, source by source, pinned to a ledger.

  2. The signature

    A detached signature from the report key.

  3. The published key

    Listed in the issuer's stellar.toml.

  4. You check it

    No account needed, and no need to take our word.

# the signed report and the key that signed it
GET  /v1/public/snapshots
GET  /.well-known/stellar.toml

Two public requests and a signature check. The guide walks through it in a terminal.

Verify a report yourself
Who it's for

One working issuer, 6 ways in

Back office

Every operator action has a reason on record

What will this freeze sign?

Before an operator confirms, the screen shows the exact Stellar operation the issuing account will sign: SetTrustLineFlags, clearing AUTHORIZED.

Tour the back office
Transcript

The issuer can freeze a holder so they can't move USDX, and every freeze needs a case and a reason. Omar enters the holder's Stellar address, here Partner A, a case reference, and a reason for the audit log. Before he requests it, the screen shows the exact operation the issuing account will sign: SetTrustLineFlags, clearing AUTHORIZED. The signing service signs it, and the case reads frozen only once Stellar confirms. Partner A's 15,000 USDX can't move, but stays in supply. Releasing works the same way: another reason, and an operation that sets AUTHORIZED again. Anyone can see this power on the transparency page: the issuer can freeze holdings, but can't claw them back.

Capabilities

36 live today. 8 on the way.

Get started

Run the whole issuer on Testnet in minutes

Sign up, land on a console with demo data, and follow a dollar from wire to wallet to signed report.

Read the docsStart with your role