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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.
12 Sep 2021 1 minute read 2 comments bmvtyea
We know that a country having debt is an extremely negative thing and the continued impression of FIAT is something extremely harmful to the financial health of that country. According to the US treasury secretary, the USA may run out of cash until O...
9 Sep 2021 3 minute read 5 comments Austras
We've already taken several dives into stablecoins backed by the dollar or using some method of staying dollar-pegged. Coinbase is one of the largest exchanges in crypto, and they have backed a stablecoin that is keeping a dollar peg through them. Ho...
8 Sep 2021 2 minute read 16 comments PVMihalache
The Cryptoverse keeps expanding and if 2020 was the year of Decentralized Finance, 2021 is clearly the year of NFTs. I crypto project combining both DeFi and NFTs will definitely take over the market! I wonder ... does such amazing platform exists?...
27 Aug 2021 2 minute read 1 comment TabbyTabby
Recently while looking for a new job, I discovered Circle. The job they offered -- remote, Mac experience, instructional design -- sounded like a dream job. Then I found out that they want to be a national bank, placing themselves under federal regul...
23 Aug 2021 3 minute read 12 comments Guarda Wallet
What are stablecoins in the first place? In short: “stablecoin” is a type of cryptocurrency that has its price connected to the price of a fiat currency (USD, EUR, GBP, etc.) or a precious material (gold, oil, platinum, etc.). This way you may store...
19 Aug 2021 1 minute read 3 comments Cje95
Recently some of the Harvest Finance Uniswap V3 farms have plummeted in APY value. As of today, August 19th, two of the farms have even fallen below 1% APY. These farms though have not been moved to the inactive farms yet. Instead, they removed the i...
18 Aug 2021 2 minute read 2 comments YJN58
Terms like "Price impact", "slippage", "impermanent loss", "rug pulls" etc may be daunting and overwhelming for beginners. The extremely composable nature of the space may also be frightening as users can create and execute yield generating strategie...
16 Aug 2021 1 minute read 0 comments Ci2fi
This is just a quick guide on how to off ramp from Polygon network to other CEX such as Binance, Ascendex. If you have been using Polygon network for defi, you would probably realise at some time or another, that you would need to convert the crypto...
3 Aug 2021 2 minute read 4 comments Cje95
Late last week I saw that a new farm had appeared on the Ethereum Chain of Harvest Finance, FARMStead USDC-24, however, for about a day I could not really find out anything about it. It only had a few thousand dollars deposited in it and was not yiel...
21 Jul 2021 3 minute read 2 comments Crypto.com
With Crypto.com constantly striving to perfect its products and services to provide the best user experience, the crypto company recently unveiled a new feature for both its App and Exchange users to enjoy. Since June 28, direct global USD deposits...
