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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.
21 Sep 2022 1 minute read 0 comments InsideCrypto $0.31
Hey PECO holders…. The markets have dropped all across the board after the weekend…Despite that we are still seeing plenty of activity in the Polygon ecosystem. This is the nineteenth episode of our PECO focused segment of the Inside Crypto podcast....
16 Sep 2022 3 minute read 2 comments CryptoJD $0.75
Coinbase is looking to onboard MakerDAO, the organization behind the largest decentralized stablecoin, to Coinbase Prime. The proposal will enable Coinbase to custody $1.60 billion USDC from the protocol's Peg Stability Module (PSM) for an estimated...
7 Sep 2022 8 minute read 0 comments Messin' With Cryptos $0.80
Hey again folks, there’s a ton of people that are still calling for $BTC to drop a lower low which means we most likely won’t be coming out of this bear market any time soon. And if you’re like me, you might be trying to find safe places to park your...
4 Sep 2022 2 minute read 9 comments PVM $3.20
Harvest Finance celebrated the 2nd anniversary, two years of DeFi dominance and growth! Harvest 3 is the new epoch of humble development, with Arbitrum farms being added this summer. I was with Harvest since day one and I am ready to celebrate many y...
1 Sep 2022 2 minute read 4 comments LeftFooted $0.64
Imagine living in a house with 26 other individuals with whom you share nothing. You all set out with the best of intentions. You wrote contracts, signed deals. You toasted to the agreement and went to bed. And then the next day you wake up and fin...
29 Aug 2022 1 minute read 3 comments Bfab $0.47
According to a report from Dappradar, The Merge could affect DeFi protocols and stablecoins: Grayscale’s concern is that the Merge might create a scenario where stablecoins and tokens locked in smart contracts might not be redeemable. The crypto inv...
27 Aug 2022 2 minute read 3 comments PVM $2.15
PoolTogether been around for crypto-centuries but I started to use it recently, after they expanded on Optimism. The two created a new ecosystem that works in synergy in the best interest of the DeFi user, creating more opportunities to earn crypto w...
26 Aug 2022 2 minute read 0 comments Stormgain $0.27
Financial regulators are increasing pressure on decentralisation, a key advantage of the cryptocurrency market. In August, the US Department of Treasury sanctioned Tornado Cash, which set a striking precedent in a move that market participants consid...
25 Aug 2022 8 minute read 0 comments CryptEducator $1.15
We've been talking a lot about macro-sentiment recently, and it's very clear that the game at hand is about the Fed's disagreement over a rate hike in September, and there's no word yet on whether it's 75 basis points or 50 basis points. Even every d...
18 Aug 2022 4 minute read 4 comments Exponential TOM $1.14
Writing about crypto is a very interesting experience, we all have our unique perspective and way of seeing things. We all have a vision of what the future might be, based on what we observe around us and our understanding of these facts. At t...
