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USD Coin (USDC) is a stablecoin released by popular exchange Coinbase in collaboration with payments company Circle in 2018. Backed by the US Dollar on a 1:1 ratio, the token is an ERC-20 token that can be purchased on Coinbase’s platform. Coinbase has said that it chose the Ethereum protocol because of its smart contract capabilities and strong developer support.
Like other stablecoins, it is intended to help traders overcome the volatility of the market. Coinbase has said that it is part of its mission is to “build an open financial system for the world”, and it does indeed allow anyone from across the world to purchase the stablecoin and use it for trading and various services.
Stablecoins often receive scrutiny relating to whether or not the issuing entity has enough reserves to back every token up, but Coinbase assures users that the holding accounts are closely monitored and audited. USD Coin is an example of a fiat-backed stablecoin, which is often what receives the greatest scrutiny.
Having one very specific purpose, there is not much in the way of development news for USD Coin. Coinbase is however working on making it more widely available, including on more exchanges and services.
16 Nov 2023 1 minute read 0 comments KMatt
November 14, new news about BlackRock drove the web crazy, shortly after the fake news of a possible Spot ETF on Xrp. In an official document presented by iShares Bitcoin Trust to the SEC, i.e. the fund that will issue BlackRock's Bitcoin Spot ETF sh...
12 Nov 2023 1 minute read 0 comments KMatt
Circle, issuer of two of the most popular stablecoins in the world, launches update 2.2 for USDC and EURC and will be completed in January 2024. The new version includes 6 key changes of which the most interesting is signature validation directly fro...
9 Nov 2023 2 minute read 1 comment Panaroma Finance
Introduction In the realm of cryptocurrencies, stability is a highly sought-after quality. This is where stablecoins like USDT (Tether) and USDC (USD Coin) come into play. Both pegged to the US dollar, these digital assets provide a haven of stabilit...
8 Nov 2023 3 minute read 22 comments Allen Taylor
Readers of my book Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!) and my newsletter are aware of the fact that I like to encourage people new to crypto as well as the crypto-curious to use Publish0x as a jumping in point...
17 Oct 2023 1 minute read 0 comments COINTURK NEWS
Ethereum's (ETH) co-founder, Vitalik Buterin, recently transferred a significant amount of USD Coin (USDC) to the US-based cryptocurrency exchange Gemini. According to PeckShield, a blockchain analysis company, Buterin sent 14.93 million USDC to Gemi...
22 Sep 2023 1 minute read 2 comments Cryptofab
I've been seeing a lot of headlines and social media posts about MiCA, the EU's Markets in Crypto Assets regulation, and how it could ban stablecoins in Europe. I'm not sure what to believe, so I'm writing this post to try to figure it out. From what...
18 Sep 2023 1 minute read 3 comments Cryptofab
I sold my BNB at $216 last night because I'm taking profits and waiting for a correction. I bought BNB at $206 on Sept. 11, and it reached $216 on Sept. 17. That's a 5% gain in six days, which is a small gain. But I decided to sell it because there a...
9 Sep 2023 2 minute read 0 comments bengy
Unsplash Unsplash With real world interest rates moving up and up and up... it wasn't going to be long before Coinbase started offering similar rates on the USDC stablecoin. After all, these are back by treasury bonds and all of that......
6 Sep 2023 3 minute read 2 comments KHubbard
The Ethereum Layer-2 network Base exhibited some growing pains today, experiencing an outage that lasted half an hour and took another 30 minutes to fully resolve. "We had a delay in block production due in part to our internal infrastructure r...
22 Aug 2023 6 minute read 0 comments Coinpaper
Coinbase, a major cryptocurrency exchange, has acquired a stake in Circle Internet Financial, the issuer of USD Coin (USDC), the second-largest stablecoin. This move also results in the dissolution of the Centre Consortium, which previously oversaw U...
