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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.
3 Mar 2020 1 minute read 5 comments CryptoSnarf $0.06
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 $0.05
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 $0.05
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 $0.02
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...
29 Dec 2019 4 minute read 2 comments TrevorBalthrop $0.04
Why hello there! USD Coin Almost out of nowhere like living in a cave hibernating. New coins have emerged within the last year or so. Many of them come in the form of stablecoins! Except there is something strange happening behind the scenes that i...
7 Dec 2019 2 minute read 1 comment Roberto D. $0.06
USDC, the stablecoin developed by Circle in collaboration with Coinbase. Officially launched in October 2017 by the CENTER consortium (which includes its own circle and coinbase), this currency has quickly become central to the growth of the well-kno...
26 Nov 2019 3 minute read 4 comments The Part Time Economist $0.93
In response to one of my recent articles, a reader asked for a more in-depth explanation of what stablecoins are and how they work. As I thought about this question, I realized that sometimes it is good go get back to basics and that many people may...
4 Oct 2019 1 minute read 2 comments BitMarian $0.11
Introduction Some exchange offer the possibility of keeping cryptocurrencies in their wallet or to obtain interest. It is a very useful option if we want to take a break from trading or if the market goes wrong, because the interests will be recei...
3 Oct 2019 1 minute read 0 comments Cryptos.com $0.03
According to an official blog post by Coinbase on October 2nd, all US citizen, USD Coin (USDC) holders will receive a 1.25% APY reward. This incentive was launched to encourage users to hold their cryptocurrency. USDC is a stable coin that is backed...
28 Sep 2019 1 minute read 0 comments Cryptos.com $0.11
What is USDC? Created by Coinbase and Circle, USD Coin is a lot like Tether (USDT) as it’s referred to as a stablecoin. That means it is pegged to the US dollar, which is held in a bank account, and is always worth at least $1 when you swap it. USDC...
