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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.
11 Mar 2023 3 minute read 0 comments Todd Mei PhD $0.34
The Macro Situation Toss and then mix. The state of the market remains confused. The ups and downs: After an initial drop, the economy got complicated when later in the week an increase in jobless claims seemed to bolster the Fed’s plan for steady hi...
11 Mar 2023 2 minute read 3 comments Drake Flyer $0.92
One shocking news after another. Intro Hold on to your hats, folks! It looks like the USDC (United States Dollar Coin) has lost its marbles in March 2023! This digital currency was once a reliable sidekick to the good old greenback, but it's gone ro...
8 Mar 2023 2 minute read 0 comments CrSanity $0.05
The FTX light switch was flipped, rest of the insanity falls just like a domino. If you missed crypto news or didn't connect the dots, Stablecoins are burning. SEC's attempt to furthermore destroy confidence in them by attacking Binances BUSD did not...
7 Mar 2023 4 minute read 3 comments Krzamake $0.45
Do we all know what are stablecoins?! By its definition, stablecoins are a special class of digital currency that are created by private companies and transferred using blockchain and distributed ledger technology. Stablecoins are typically anchored...
6 Mar 2023 3 minute read 0 comments PVM $1.39
PoolTogether is the crypto-powered savings protocol based on Premium Bonds that helps users to save money. Additionally, the participants have a chance to win prizes every day, with the lowest risk in the Cryptoverse. The Optimism Layer-2 scaling sol...
6 Mar 2023 1 minute read 1 comment Bfab $0.54
As Silvergate delayed its financial report to the SEC, the cryptosphere starts to think they will soon go bankrupt. Therefore, we may wonder which cryptos could be impacted by this bankrupt. A short answer would be: all of them, including Bitcoin (BT...
3 Mar 2023 2 minute read 2 comments Bfab $0.60
You have all noticed that today crypto market is bearish. One of the reasons is due to the situation of Silvergate. By the way, it could be useful to look at the links they have with USDC and USDT... Just imagine these links are tight, it might creat...
10 Feb 2023 6 minute read 1 comment NOWPayments $0.34
Accept donations on Polygon Network The Polygon protocol is a Layer-2 solution that uses Ethereum as a backbone for its operations. By taking transaction processing off-chain, Polygon enhances Ethereum’s scalability, which results in quicker transact...
10 Feb 2023 4 minute read 7 comments Cje95 $0.97
Today I received a push notification from Robinhood and while this is a typical thing throughout the day for me this one was different and easily got my attention. It informed me that... Now, this is not the first time that Robinhood has done this an...
9 Feb 2023 5 minute read 5 comments NOWPayments $1.48
Accept payments in stablecoins Stablecoins have firmly entered the lives of business owners because they allow for a safe, cost-effective, and fast money turnover with clients and business partners. Thanks to blockchain technology, stablecoins ha...
