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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.
19 May 2022 2 minute read 2 comments kev_nag $0.43
Introduction Long beleaguered by concerns regarding its cash reserves, in the wake of the Terra/UST crash, Tether faces more concerns. As Tether’s peg with the United States Dollar is backed (supposedly) by cash, bonds, and Treasuries, each individua...
19 May 2022 3 minute read 2 comments CryptoChad $0.70
The UST de-pegging has shown one thing; not all stablecoins are safe and our selection is vital. Even if they remain stable for a long time they can still show volatility which can mainly be attributed to the coin's code and functions. Do we need t...
17 May 2022 3 minute read 0 comments Cje95 $0.29
A few months ago when Tether first started disclosing the breakdown of assets that backed up its $1 peg the majority of their backing was in something called Commercial Paper. Commercial Paper, while not the world's worst thing, is still not a great...
16 May 2022 6 minute read 0 comments Stormgain $0.05
What is a Stablecoin? The global financial market is extremely volatile nowadays. Stablecoins, as a type of cryptocurrency, are increasingly attracting investors as an alternative to traditional assets. So, what is a stablecoin, how is it regulated a...
27 Apr 2022 3 minute read 0 comments Mike Ermolaev $0.53
BlackRock’s clients show increasing interest in digital assets BlackRock becomes the manager of Circle's USDC cash reserves The crypto community fears this will undermine Bitcoin's decentralization It's a trillion-dollar question, or to be more p...
26 Apr 2022 4 minute read 0 comments Cje95 $0.45
Over the last year or so Texas has made huge moves in the Bitcoin and broader tech world with its business-friendly environment, no state income tax, and encouragement of crypto mining. More often than not when a state or city is making waves with cr...
22 Apr 2022 6 minute read 5 comments StealthEX $1.27
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...
18 Apr 2022 3 minute read 0 comments Fiatom.io $0.01
USD Coin is a stablecoin that was launched on the Ethereum blockchain in September 2018. The project was developed by the world’s leading companies Circle and Coinbase. To date, USDC is among the top 5 most capitalized cryptocurrencies. We invite you...
15 Apr 2022 5 minute read 2 comments Thumbs Up $0.77
Hey friends 👋 The first DeFi protocol I ever got excited about was PoolTogether. I immediately fell in love with this idea of prize-linked savings. Back then it was commonly referred to as a no-loss lottery since anyone can deposit money and get a...
11 Apr 2022 2 minute read 12 comments PVM $1.20
I am using Celsius Network for nearly two years, and is the place where I am holding my long term investments in crypto. Getting weekly interest is the best way to grow your bag. Yes... is not centralized and I am aware of the risk... but what is 100...
