Stable Pre-deposit Vault Phase 2 KYC Link Released

The KYC link for the second phase of the Stable Pre-deposit Vault is set to be released on November 8, enabling users a 72-hour window for verification.

This phase, with a $500 million cap, could impact stablecoin liquidity, highlighting demand and preparedness for KYC compliance in the crypto sector.

$500M Wallet Cap Draws Major Institutional Interest

The Stable Pre-deposit Vault Phase 2 event introduces a 72-hour KYC window following the upcoming link release, potentially affecting liquidity and on-chain dynamics. Stable’s official channels communicated this update, emphasizing procedural adherence. The event, with a $500 million cap per wallet, targets large-scale DeFi engagement.

Overall, $827 million in deposits reflects market enthusiasm, exceeding the available cap by 40.60% according to Coincu research. Institutional involvement is a key highlight, attracting major DeFi investors. After KYC, the settlement for new USDT will finalize by December 31. Stable’s communication strategy, consistently framed through official channels, underscores the scalability in managing such deposits.

Oversubscribed Deposits Signal Strong Market Demand

Did you know? The event’s oversubscription mirrors previous stablecoin launches, notably the LUSD and USDD, showcasing market trends in rapid inflows and allocation-driven outflows.

According to CoinMarketCap, USDC maintains a stable price of $1.00, with a market cap of $75.74 billion, indicating slight price fluctuations over recent months. Its circulating supply stands at 75.75 billion, while the trading volume reached $19.57 billion, showcasing minor changes with 0.03% over 60 days.

Stable’s communication strategy has been described as “predominantly from the Stable and Hourglass teams,” reinforcing the importance of official channels in the absence of KOL statements.