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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.

Bug Bounty Pays Off, Huge FARM Buybacks, and Reactivated Vaults at Harvest Finance

13 Nov 2021 2 minute read 1 comment Cje95

It is not often we hear about bug bounty programs' success stories but today I found out about a huge success story from Harvest Finance. Over a year ago Harvest was the victim of a flash loan attack and while they have made that initial victim whole...

Turn your Singapore dollars into USDC with FTX BlockFolio App

14 Oct 2021 3 minute read 2 comments doufu

In this article, I am going to share a method to onboard your Singapore dollars (SGD) into the stable coin USDC with FTX App (formerly known as BlockFolio) I have been using the app BlockFolio to track my crypto earnings before the app was bought ove...

Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

14 Oct 2021 1 minute read 0 comments AEX

On Wednesday, October 14, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged...

A look at the MoneyGram-Stellar Partnership

9 Oct 2021 3 minute read 3 comments I-HODL

  Guys, this past week we heard reports of cross-border payments giant MoneyGram International Inc. ramping up its crypto game and working with the  Stellar Development Foundation for the instant transfer of Circle's USDC stablecoin, right? And we sa...

Crowdsourcing Collective Intelligence: What Will You Do With $40 USDC?

3 Oct 2021 1 minute read 19 comments diaperfinancingfund

I finished this great book entitled "Great TED Talks Creativity" recently. Among the 100 tips to improve one's creativity the author curated from influential TED talks was the idea of collaborating with your audience. A picture speaks a thousand word...

What is the best stablecoin?

28 Sep 2021 1 minute read 22 comments Austras

  Stablecoin summary All stablecoins are different and manage their 1:1 peg differently. There are centralized, decentralized, fiat backed, crypto backed, algorithm backed etc. But which is the best and what coin has the least amount of negatives? It...

Combining Comprehension And Cryptocurrencies For My Students Part 2

27 Sep 2021 1 minute read 3 comments diaperfinancingfund

I am so gratified that my previous post on combining comprehension and cryptocurrencies seemed to be well-received by many of you here. Thank you for your support as I strike a balance between getting my students to meet the requirements of state-man...

Having a lot of fun with Hodlnaut and CryptoParrot

23 Sep 2021 5 minute read 13 comments SirGerardThe1st

It is true that we are in the crypto sphere to make money. But we are also here to have fun. This constitutes a wonderful space in my life today and I have discovered a parallel world, let's say a metaverse, in which I can navigate unknown and new pa...

U.S. Treasury Department Meeting with Stakeholders about Stablecoin Regulation

14 Sep 2021 1 minute read 2 comments Cje95

The United States Treasury Department has been meeting with the different groups that are invested or involved in stablecoins to investigate possible issues that could arise and what would be done in said situations. What is good about the reports co...

Gordon's Right About Stable Coins and Everybody Else Is Wrong

13 Sep 2021 13 minute read 12 comments BitcoinGordon

Okay, well I'm sure there's a person here and there that can be swayed. But, I'm right, whether the future backs this up remains to be seen, because we live in a clown world with clown news, clown analysts, clown 'experts' and a big ole tent called p...