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USD Coin (USDC)

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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.


Let's See How My Interest Is Doing - 3.11.2020

2 weeks ago 1 minute read 0 comments TheSnarfy

I'm sure most of you have noticed that I really like investments that generate passive income. One of these forms of income is from earned interest on the initial investments. The two main products I use for this is Worthy and BlockFi. Both have inte...

BlockFi Does It Again! - Second Month of Crypto Interest

3 weeks ago 1 minute read 5 comments TheSnarfy

I started using BlockFi in mid January. I had just recently joined Publish0x and learning about crypto in general. I had been holding onto some BTC in Coinbase that I'd earned from various places on the internet. But now that I am more educated I hav...

USD Coin (USDC): Yet Another "What is USDC?" Article...🙄 But NO! 💰

13 Feb 2020 4 minute read 0 comments tomoyan

Why would you want USD Coin (USDC)? instead of real paper moeny? Because USD Coin (USDC) has a stable price (stablecoin) and 1 USDC is always $1 USD!? 🤔 What is USD Coin (USDC)? source U̶S̶D̶ ̶C̶o̶i̶n̶ ̶(̶U̶S̶D̶C̶)̶ ̶i̶s̶ ̶a̶ ̶r̶e̶l̶a̶t̶i̶v̶e̶l̶y̶ ̶...

Nexo - Earn 8% Interest On Your Stablecoins

26 Jan 2020 1 minute read 3 comments BillyCrypto

Nexo makes earning interest simple and easy. Simply deposit your stable coins and let the interest flow. Users earn 8% per year on stablecoins with interest that compounds daily and is paid out daily. Stablecoins that Nexo support are TUSD, USDC, SAI...

Grant Thornton LLP releases Attestation Report USD Circle Stablecoin (December 2019)

23 Jan 2020 1 minute read 0 comments WhiteWalrus

On 22 Jan 2020, Circle released the Dec 2019 report attesting to the US dollar reserves backing USDC by independent accounting firm, Grant Thornton LLP. They are the same accounting firm that is overwatching the Cryptopia.nz exchange hack and the acc...

USD Coin?

29 Dec 2019 4 minute read 2 comments trevorbalthrop

Why hello there! USD Coin Almost out of nowhere like living in a cave hibernating. New coins have emerged within the last year or so. Many of them come in the form of stablecoins! Except there is something strange happening behind the scenes that i...

DeFi: new record of loans disbursed through the USDC circle and coinbase stablecoin

7 Dec 2019 2 minute read 1 comment Roberto D.

USDC, the stablecoin developed by Circle in collaboration with Coinbase. Officially launched in October 2017 by the CENTER consortium (which includes its own circle and coinbase), this currency has quickly become central to the growth of the well-kno...

Centralized Crypto Finance -The Forbidden Fruit?

30 Nov 2019 5 minute read 7 comments The Part Time Economist

Decentralized Finance (DeFi) is only one of many different ways to earn passive income by lending crypto. Over the past few days, I have received an increasing number of questions about Centralized Financial (CeFi) crypto lending. Before beginning th...

8 Beginner Questions About Stablecoins Answered

26 Nov 2019 3 minute read 4 comments The Part Time Economist

In response to one of my recent articles, a reader asked for a more in-depth explanation of what stablecoins are and how they work. As I thought about this question, I realized that sometimes it is good go get back to basics and that many people may...

Sai vs Dai - My Strategy for Maximizing Interest Rates

21 Nov 2019 6 minute read 7 comments The Part Time Economist

Congratulations! You have upgraded your old Sai to the new Multi-Collateral Dai (MCD) and you are ready to lend the new Dai on your favorite DeFi platform. You log into Fulcrum and see that the new Dai has an amazing....0% interest rate?? "No worries...