Issue stablecoins on a ledger that proves its reserves
Back every token 1:1 with segregated fiat, mint and redeem programmatically, and produce an immutable audit trail your auditors and regulators can trust.
Spreadsheets cannot back a token
Reserve integrity is an accounting problem, not a smart-contract one.
Off-chain reserves, mint/burn events and bank balances live in disconnected systems. Reconciling them is manual, error-prone, and impossible to prove after the fact.
ledger @ 23:59:59 ≠ cash pool @ 23:59:59 · flagged for review
_PROOF/ Stables runs its reserve ledger on Formance — every token traceable to a segregated dollar.
Every token traces back to a dollar
Fiat in, token out — one auditable chain of double-entry transactions.
Deposits land in a segregated reserve, minting is posted against that reserve, and redemptions reverse the exact path. Balances are derived, never overwritten.
The primitives issuers need
Built on the open-source Formance ledger. A double-entry core, programmable money movement and normalized connectivity — composed for reserve-backed issuance.
point-in-time balances
RESERVE LEDGER
A double-entry account tree segregating fiat reserves per currency and per banking partner, with derived balances you can query at any timestamp.
exactly-once
MINT / REDEEM
Model issuance and redemption as deterministic Numscript transactions — idempotent, exactly-once, and reversible by construction.
Read the Numscript docsdeterministic · idempotent · reversible by construction
immutable log
PROOF OF RESERVES
Reconstruct circulating supply and backing reserves for any point in time, straight from the immutable transaction log.
MATCH | reserve:fiat ↔ supply:USDC USD 1,000,000 |
MATCH | reserve:fiat ↔ supply:EURC EUR 480,000 |
DRIFT | D-1 supply vs reserve USD 0.00 |
MATCH | holders:alice ↔ mint tx USD 1,000,000 |
RESOLVE | point-in-time snapshot · T-0 |
MATCH | holders:bob ↔ redeem tx USD 250,000 |
MATCH | reserve:fiat ↔ supply:USDC USD 1,000,000 |
one schema, every rail
BANKING CONNECTIVITY
Normalize deposits and payouts from every bank and PSP into one schema, so adding a reserve partner never changes your logic.
| type | status | scheme | amount | asset | provider |
|---|---|---|---|---|---|
| PAY-IN | SUCCEEDED | SEPA | +8,210.00 | EUR/2 |  |
| PAYOUT | PENDING | ACH | −12,400.00 | USD/2 |  |
| PAY-IN | SUCCEEDED | CARD_VISA | +129.99 | USD/2 | |
| TRANSFER | SUCCEEDED | OTHER | −0.5200 | BTC/8 |  |
| PAYOUT | FAILED | SEPA | −3,000.00 | EUR/2 |  |
Reserve-grade, by design
Minting is a transaction, not a script
Back every token with a deposit in the same atomic operation.
A single Numscript transaction moves fiat into the segregated reserve and issues the equivalent token to the holder — atomic, idempotent and auditable.
Trusted by builders
“Formance enabled us to ship new lending products faster by providing a customizable foundation that let us reliably express the complexities of our flow of funds.”
Embedded finance · reconciliation across 14 countries
See customer story
“Formance is the foundation of our Financial OS, the open-source approach lets us retain control over this key component.”
Healthcare · Financial OS
“Formance helped us kick off our move into fintech, with robust infrastructure and intuitive developer tooling.”
Benefits · fintech infrastructure
Built for regulated money.
Enterprise controls, the certifications auditors ask for, and an immutable record, out of the box.
09:41:07Z AUDIT gateway POST /api/ledger/v2/main/transactions 200 sub:ops@acme.io
09:41:09Z LOG id:4093 NEW_TRANSACTION ledger:main
09:41:12Z LOG id:4094 SET_METADATA ledger:main
09:41:15Z LOG id:4095 REVERTED_TRANSACTION ledger:main
09:41:18Z AUDIT gateway GET /api/ledger/v2/main/logs 200 sub:audit@acme.io
Keep going
Everything you need to evaluate and build on Formance.
Stablecoin issuance, answered
01 / HOW IS 1:1 BACKING ENFORCED?
Every mint is posted against a matching fiat deposit in a segregated reserve account. Circulating supply and reserves are derived from the same immutable log, so backing is verifiable at any timestamp — not asserted after the fact.
02 / CAN I PRODUCE PROOF OF RESERVES?
Yes. Reconstruct circulating supply and backing reserves for any point in time straight from the transaction log, and hand auditors a reproducible figure instead of a spreadsheet snapshot.
03 / ARE MINT/REDEEM FLOWS SAFE TO RETRY?
Issuance and redemption are deterministic Numscript transactions — idempotent and exactly-once. A retried or replayed request can never double-mint or double-burn.
04 / WHAT ABOUT MULTIPLE BANKING PARTNERS?
Deposits and payouts from every bank and PSP normalize into one schema. Adding a reserve partner is a connector change, not a rewrite of your issuance logic.
Build on infrastructure you can trust
See how Formance fits your stack, book a demo, or start building today.