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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.
24 Jan 2021 1 minute read 0 comments Pasucaru
In the CeFi (Centralized Finance) and especially in the stablecoin world (stable with respect to the $US) , what is the best choice? My point of view has evolved about USDT (or Tether) since the SEC (U.S. Securities and Exchange Commission) targeted...
24 Jan 2021 1 minute read 1 comment Gamma
Pornhub users can now use 4 new crypto-currencies to pay for premium services on the site More and more fans to accept blockchain payments - BNB from Binance, XRP from Ripple and stablecoin from Coinbase USDC and Dogecoin are now accepted as paymen...
20 Jan 2021 1 minute read 0 comments Greenchic
Image Source US Banks authorised to be validators of public Blockchains that create stable coin assets Audited Stable stable coins like USDC have got more prominence now in the United States now with the country’s major regulator, the Offi...
18 Jan 2021 3 minute read 4 comments Steven_BA
The third episode of the mini-series called Top 100 crypto-currencies continues today with USD Coin. If you want to check the previous two posts, just check them here: Newbie Quest: Understanding Stellar Lumens (XLM) and Newbie Quest: Understanding U...
9 Jan 2021 3 minute read 0 comments GoInvest
It would seem that America is making great strides regarding the use of cryptocurrencies. Since a few days in fact, according to what has been stated by the OCC (Office of the Comptroller of the Currency), banks will be able to take advantage of new...
8 Jan 2021 1 minute read 1 comment Bfab
Algorand has always been recognized as a solid project. It is a pure proof of stake. No delegation needed. Very low transaction fees. Only the tokenomics have been criticized. It has been fixed. So, what's next? Just look at the news of the week: 1)...
1 Jan 2021 4 minute read 6 comments Hamminy
The new rave in defi right now is the algorithmic stablecoin. These are protocols that use a mix of monetary policies rather than a secured asset to maintain a stable peg. They seem very hard to understand, but the only thing you need to understand i...
9 Dec 2020 1 minute read 4 comments Abhi_nan
Circle CEO Jeremy Allaire, speaking at the Singapore Fintech Festival, said that he expects third generation blockchains to encompass “hundreds of millions, if not billions of users.” Allaire made the remarks in a panel discussion on the topic of wh...
4 Dec 2020 1 minute read 2 comments XTRM™
The world of credit cards moved a step closer to using cryptocurrency within merchant payment systems as VISA one of the largest credit card lenders teamed up with Circle and their Ethereum based Stablecoin USDC. In short this is quite the coup for b...
3 Dec 2020 1 minute read 1 comment Abhi_nan
Visa has partnered with Circle to integrate USDC into its payments network, according to a Forbes report on Dec. 3. Visa announced that it will bring the USDC stablecoin to the 60 million merchants on its payments network The payments firm will not...
