# What Are STABLEcoins

STABLEcoins issued by Stable Labs and minted through Genify all maintain a fixed 1:1 peg with their respective fiat currencies during minting and redemption. 

> **For example, 1 USDI = 1 USD, and 1 EURI = 1 EUR.** 

#### Key Features

* **1:1 Peg:** Each STABLEcoin is pegged to its respective fiat currency, ensuring stability.
* **Backing Reserves:** These STABLEcoins are backed by cash or cash-equivalent reserves held in a bankruptcy remote structure.
* **Regular Audits:** Reserves are subjected to regular audits by established independent auditors.
* **Proof of Reserve:** Transparent reporting via Chainlink’s publicly available Proof of Reserve (PoR) Reports ensures reliability.
* **Chain agnostic:** All of our stablecoins have CCIP integrated and can be minted on all chains where CCIP is live regardless of if it is EVM or alternative VM Blockchain.