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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.
27 Apr 2020 2 minute read 0 comments Greenchic
Increase in Stable Coin holdings these in recent months Since the past few months, there has been an increase in demand and market capitalisation of stable coins - Tether (USDT), USDC, TrueUSD(TUSD) and Paxos Standard (PAX). These dollar pegged d...
27 Apr 2020 2 minute read 0 comments xqanxxx
Good morning lads! I hope this post finds you in good health :) Previously we had to touch on the possibility of selling our bounty stakes for Ethereum and USDC. You can read about it if you haven't done that yet here. This is just a build up on what...
19 Apr 2020 1 minute read 0 comments DefiMoon
This beautiful graphic was released today by Flipside Crypto and I'm fascinated by it. The key takeaways for me here is the clear division between centralized and decentralized finance camps. It's clear that USDT is the proffered stablecoin of choice...
30 Mar 2020 2 minute read 0 comments CronBTC
In my last post, I mentioned the possibility of bank runs due to past events and many recent events, namely the 1929 Crash and the Greek Debt Crisis. Now, you maybe thinking with the CV going around who could possibly want to have physical cash righ...
30 Mar 2020 2 minute read 0 comments CronBTC
If you are in the Crypto/Gold/Silver community you are well aware what the Fractional-Reserve banking system is. As a matter of fact, if you are in any of these alternative investments you may very well despise the current banking system (or at the v...
11 Mar 2020 1 minute read 0 comments CryptoSnarf
I'm sure most of you have noticed that I really like investments that generate passive income. One of these forms of income is from earned interest on the initial investments. The two main products I use for this is Worthy and BlockFi. Both have inte...
3 Mar 2020 1 minute read 5 comments CryptoSnarf
I started using BlockFi in mid January. I had just recently joined Publish0x and learning about crypto in general. I had been holding onto some BTC in Coinbase that I'd earned from various places on the internet. But now that I am more educated I hav...
13 Feb 2020 4 minute read 0 comments tomoyan
Why would you want USD Coin (USDC)? instead of real paper moeny? Because USD Coin (USDC) has a stable price (stablecoin) and 1 USDC is always $1 USD!? 🤔 What is USD Coin (USDC)? source U̶S̶D̶ ̶C̶o̶i̶n̶ ̶(̶U̶S̶D̶C̶)̶ ̶i̶s̶ ̶a̶ ̶r̶e̶l̶a̶t̶i̶v̶e̶l̶y̶...
26 Jan 2020 1 minute read 3 comments BillyCrypto
Nexo makes earning interest simple and easy. Simply deposit your stable coins and let the interest flow. Users earn 8% per year on stablecoins with interest that compounds daily and is paid out daily. Stablecoins that Nexo support are TUSD, USDC, SAI...
23 Jan 2020 1 minute read 0 comments WhiteWalrus
On 22 Jan 2020, Circle released the Dec 2019 report attesting to the US dollar reserves backing USDC by independent accounting firm, Grant Thornton LLP. They are the same accounting firm that is overwatching the Cryptopia.nz exchange hack and the acc...
