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.


How to Buy Stablecoins in Canada

31 May 2020 2 minute read 2 comments cryptoforcanadians

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24 May 2020 1 minute read 0 comments Panzer

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22 May 2020 1 minute read 0 comments Cryptohem

Being a user of brave browser i have an uphold account and so today i got an email from uphold about theire announcement of launching theire new stablecoin  centre.  Overview of Uphold Uphold is a  cloud base universal asset exchange service rather t...

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27 Apr 2020 2 minute read 0 comments Greenchic

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27 Apr 2020 2 minute read 0 comments xqanxxx

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19 Apr 2020 1 minute read 0 comments DefiMoon

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30 Mar 2020 2 minute read 0 comments CronBTC

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30 Mar 2020 2 minute read 0 comments CronBTC

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11 Mar 2020 1 minute read 0 comments CryptoSnarf

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3 Mar 2020 1 minute read 5 comments CryptoSnarf

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