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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.
23 Jan 2022 1 minute read 5 comments diaperfinancingfund
I wonder if anyone has noticed my brief absence from Publish0x. A new school year has begun, so I’m starting to get into the swing of things. Coupled with a toddler who inexplicably becomes energetic around bedtime, I haven’t found the time to blog m...
22 Jan 2022 1 minute read 0 comments Allen Taylor
Crypto exchange Binance has been operating in secrecy, preventing government regulators from knowing what they need to know to effectively regulate exchanges like Binance. One can understand why. If they declared a headquarters in any country, they’d...
21 Jan 2022 1 minute read 2 comments AlucardLife
I don't have a crystal ball. It might not happen. But you should act as if it is a foregone conclusion. The SEC has been itching for an opportunity to rein in crypto and all of those shady supercoders and tax cheats it empowers. A correction in the m...
17 Jan 2022 1 minute read 1 comment Keith Thuerk
The Black Diamond Called ‘The Enigma’ What do we know about it? The Enigma is a natural faceted black diamond of this size is an extremely rare and comes in at 555.55 carats. In case you were wondering it has 55 facets Listed in the Guinness Worl...
4 Jan 2022 1 minute read 1 comment Defi Degsy
Simply use a Stable coin like USDT or USDT FOR YOUR PAIRING, even Magic Internet Money or MIM, then only 50% of your Crypto is exposed to impermanent loss, which is simply the price of the staked coin going down. It's not as bad as it sounds because...
27 Dec 2021 2 minute read 1 comment ArtMoz
Stable Coins Stable coins are coins whose price is stable depending on what are they backed by. Lets say a stable coin is backed 1:1 ratio with a US Dollar, that would mean that You will always get 1 US dollar for the coin. Why would anyone need s...
22 Dec 2021 1 minute read 1 comment cryptomining
In this video I show how you can to earn up to 14% apy staking stablecoins with crypto earn on crypto.com app. This is a HUGE passive income! Watch more videos like this on my channel. Did you know you can get a FREE visa crypto cashback card where y...
13 Dec 2021 5 minute read 4 comments ssaurel
In the Bitcoin world, you often hear about flippening. For newcomers, this is when Bitcoin's market cap will exceed gold's market cap. To give you an idea of how far we have to go, Bitcoin's market cap is currently $947B, while gold's market cap is $...
7 Dec 2021 1 minute read 1 comment potas44
Last night, i was thinking about what is the best strategy, and the most effective way of staking crypto or stablecoins on crypto.com. Well, the most value you get is when you stake your coins for 3 months. For this example, i will be doing it with s...
21 Nov 2021 1 minute read 1 comment FX Empire
USDC’s market value currently stands at $35 billion, making it the second-largest stablecoin in the market. The operator behind the second’s largest stablecoin in the cryptocurrency sphere is expanding, and now its geographic boundaries...
