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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.
24 Nov 2020 1 minute read 2 comments ScreenTag
At this point we are changing our portfolio threshold to 5% up (sell) and 10% down (buy), as a price correction is imminent. Market has been surging sharply for the past few days, leading ETH price from $460 to over $600 (+30%). All earnings accumula...
12 Nov 2020 1 minute read 0 comments espacioreal
Types of stablecoins Stable cryptocurrencies can be divided into two types: some are tied to fiat currencies (issued by states), and others are paired with other assets, such as gold, stocks, and other cryptocurrencies. There are also others, with pa...
11 Nov 2020 1 minute read 0 comments Numio
Numio, a startup of the year finalist, has brought Ethereum Layer 2 to mobile so you can make fast and cheap transfers while still holding your own private keys. Whats Inside? zkRollups zkRollups allow you to make fast and cheap transfers whil...
4 Nov 2020 3 minute read 20 comments Bryan Divisions
Today I'll be sharing with you a strategy to convert our interest earnings from lending USDC into Bitcoin, and then lending that Bitcoin to gain even more interest. We'll be using two CeFi platforms to accomplish this, Celsius, where we'll be lendin...
18 Oct 2020 1 minute read 3 comments WhiteWalrus
Here is the October 2020 promo from BlockFi. If you have $10k in fiat you need to put in savings and keep it liquid, I recommend you park it at BlockFi for a few months at least. This way, you'll get the sign up bonus of $275. The link to sign up fo...
17 Oct 2020 2 minute read 3 comments Heruvim78
In accordance with the open voted proposal, SUN regular mining welcomes its much-anticipated second round of output reduction so, after the usual chit-chat, the SUN community has agreed to further cut SUN mining output by 30% to better promote the v...
17 Oct 2020 4 minute read 36 comments Thomas Wolf
Coinbase has just launched another opportunity to earn $10 to $53 USD in free Compound (COMP) by demonstrating a smart-contract setup in Coinbase Wallet mobile app linked to Coinbase accounts.“I’m a great believer in luck, and I find the harder I wor...
15 Oct 2020 1 minute read 4 comments Yaki Moto
So the major announcement has been revealed: USDC will be issued on Stellar blockchain. Why is this great? Stablecoins are part of Stellar protocol by default If you choose to send or receive USDC on Stellar, you won’t have to pay RIDICULOUS GAS FEE...
11 Oct 2020 1 minute read 0 comments JJPV_19
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29 Sep 2020 2 minute read 0 comments bossin
What are Stable Coins? A stable coin is a type of cryptocurrency that has a market price at a stable rate, aims for the lowest price volatility, and is often pegged to a national currency. Tether (USDT) is a good example of a stable coin because it m...
