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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.

The Difference Between USDC And USDT Stablecoins

23 Aug 2021 3 minute read 12 comments Guarda Wallet

What are stablecoins in the first place? In short: “stablecoin” is a type of cryptocurrency that has its price connected to the price of a fiat currency (USD, EUR, GBP, etc.) or a precious material (gold, oil, platinum, etc.). This way you may store...

What is the best stablecoin?

28 Sep 2021 1 minute read 22 comments Austras

  Stablecoin summary All stablecoins are different and manage their 1:1 peg differently. There are centralized, decentralized, fiat backed, crypto backed, algorithm backed etc. But which is the best and what coin has the least amount of negatives? It...

USD-coin in focus, Coinbase's solution to Tether

9 Sep 2021 3 minute read 5 comments Austras

We've already taken several dives into stablecoins backed by the dollar or using some method of staying dollar-pegged. Coinbase is one of the largest exchanges in crypto, and they have backed a stablecoin that is keeping a dollar peg through them. Ho...

What Are Stablecoins? Are Stablecoins a Good Investment?

22 Apr 2022 6 minute read 5 comments StealthEX

What are Stablecoins? Stablecoins are digital assets that are hard-pegged to a more common asset, such as fiat currencies or gold. Their key feature is relative stability. It is possible to conduct predictable calculations in them. Read more about st...

USDT vs. USDC – The Big Flippening That Is Approaching Fast and That Nobody Talks About

13 Dec 2021 5 minute read 4 comments ssaurel

In the Bitcoin world, you often hear about flippening. For newcomers, this is when Bitcoin's market cap will exceed gold's market cap. To give you an idea of how far we have to go, Bitcoin's market cap is currently $947B, while gold's market cap is $...

How To Buy Stablecoins With Credit Card On Binance Step by Step

13 Jun 2022 6 minute read 4 comments Cryptonator`s

With stablecoins, the cryptocurrency space really has become a lucrative and serious alternative to the traditional financial banking system. While you don't get any significant interest from your local bank, you can earn lucrative rewards from your...

Having a lot of fun with Hodlnaut and CryptoParrot

23 Sep 2021 5 minute read 13 comments SirGerardThe1st

It is true that we are in the crypto sphere to make money. But we are also here to have fun. This constitutes a wonderful space in my life today and I have discovered a parallel world, let's say a metaverse, in which I can navigate unknown and new pa...

Bitcoin's Crash Isn't Over Yet (And Other Tales From Crypto)

17 Jun 2022 3 minute read 5 comments Allen Taylor

3 metrics indicate the bitcoin crash isn’t over. Still, BTC is undervalued. Bitcoin Magazine warns: As the price continues to fall, don’t trust custodians. Read all three of these and take them to heart. The fall isn’t over, bitcoin is undervalued, a...

Ethereum-Bitcoin Flippening: Is It Possible in 3 Years?

9 Apr 2022 1 minute read 9 comments Allen Taylor

Ethereum’s gas fees were up 13 percent in March as new ERC-20 token generation surged 125 percent above February’s. Galaxy Digital Trading says ETH could flip BTC within three years. Now let’s all hold our breath. Tesla, Block, and Blockstream are te...

What happens on Polygon ... Stays on Polygon

24 May 2022 3 minute read 7 comments PVMihalache

What happens on Polygon stays on Polygon, unless you are using Across Protocol! Across is the fastest, cheapest and most secure Ethereum bridge! Huge milestone was achieved on the 16th of April, as Across reached $200MM in total bridged volume! Check...