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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.
20 Jul 2021 1 minute read 3 comments Skyfries
Circle, the consortium behind USDC, has released their audit for all assets through May 28th, 2021 conducted by Grant Thornton. The audit took a different tack from the April audit and had a breakdown of how assets were denominated. It is now clear...
8 Jul 2021 3 minute read 3 comments Sapphire
Have You Noticed? If you have been operating in the DeFi space utilizing stablecoins in order to earn yield, you would have noticed how much the rates have decreased. Although rates are down across most of the DeFi space, stablecoin returns on DeFi p...
1 Jul 2021 1 minute read 2 comments Coard
What is MATIC? MATIC - aka POLYGON network. Used to make transactions on the Ethereum network (side chain) The commission is extremely cheap at the moment. About 0.001648 MATIC = 0.0018128 USD (But depends from MATICs price on the market) For example...
1 Jul 2021 5 minute read 4 comments Bread
Cryptocurrency. The very word tends to fill the average person with fear, particularly the less technically literate. Some have heard the word 'Bitcoin' and know a little bit about it, but mention Ethereum, Ripple or Monero and you'll basically end u...
1 Jul 2021 1 minute read 3 comments KHubbard
If this first story isn't a testament to how much our lawmakers don't know about blockchain and cryptocurrencies, I don't know what is. Many in the cryptocurrency industry have long demanded that Congress provide "regulatory clarity" on how it will...
29 Jun 2021 2 minute read 0 comments RHBW
Coinbase today announced that they are taking pre-enrolled applications for their USDC 4% APY. This will be a significant jump from their .15% available to holders of USDC on the Coinbase platform. With this jump some increased risk is also included...
28 Jun 2021 2 minute read 0 comments ArtemisJulius
Generally speaking, when a poker player, goes “All-in”, it’s because he/she is confident that they have a winning hand. Going all-in usually has one of two outcomes. You’ll either win big or you’ll lose it all. Well after much research I’ve decided...
28 Jun 2021 8 minute read 10 comments AlucardLife
Been hearing about Tether (USDT) FUD for as long as I've been in crypto. Now's the first time that I have enough information to provide an informed opinion on the subject. So yeah. TL;DR — You take risk regardless of the financial system you choose t...
26 Jun 2021 2 minute read 3 comments PVMihalache
I started the SuperUMAns series less than a month ago and UMA feels like an endless pool of topics. The protocol evolves so quickly and the superUMAns are amazing. They are working hard to create new campaigns and to implement the UMA's unique featur...
25 Jun 2021 7 minute read 1 comment MathTiger
This article is part of a series analyzing stablecoins pegged to the United States Dollar (USD). Are all stablecoins equally stable? In the coming weeks, I plan to analyze and rank each of the main stablecoins in the crypto ecosystem, in terms of s...
