USDC’s Ecosystem Continues to Thrive, Circle Adds Five New Partners
- Most recently, Binance enabled support for USDC deposits and trading on the stablecoin’s pairs.
Goldman-Sachs-backed platform Circle recently announced that five new companies have added support to its USD Coin (USDC), a Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including pegged to the US dollar. In total, this brings the number of partners that have enabled the stablecoin ecosystem to more than 60 exchanges, wallets, platforms, apps, and service providers.
As reported by Circle, Airswap, BlockMyTalent, Opensea, Atomic Wallet and Abacus Protocol have involved themselves in the USDC network, joining other major supporters, including Coinbase.
Acting as a sort of safe haven where crypto traders can park their assets in volatile markets, USDC is an Ethereum-based ERC-20 coin, which makes it easy for wallets, exchanges and other smart contracts to interact with the token.
Most recently, Binance enabled support for USDC deposits with trading on the stablecoin’s pairs, against Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that and Binance’s token BNB, already started on November 17.
Circle’s stablecoin is based on an open source fiat stablecoin framework developed and governed by the CENTRE project.
And in a bid to accelerate adoption of its service to tokenize the buck, Circle said it would no longer charge fees from customers redeeming USDC into US Dollars, making it more attractive for crypto exchanges, protocols, platforms, applications, and wallets.
What’s Next On The Horizon?
The topic of stablecoins is generating buzz in the crypto community these days. The major application for such assets has been as a mechanism for trading and hedging in global crypto capital markets.
Circle’s stablecoin goes head-to-head with other stablecoins such as Gemini Dollar, Paxos Standard, and Tether (USDT). The latter is a USD-backed stablecoin which is used as a proxy for physical money on many cryptocurrency exchanges. However, Circle’s New York BitLicense will offer a fully audited alternative, in contrast to Tether which has been the subject of controversy and regulatory scrutiny due to lingering questions about its cash reserves.
Goldman-Sachs-backed platform Circle recently announced that five new companies have added support to its USD Coin (USDC), a Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including pegged to the US dollar. In total, this brings the number of partners that have enabled the stablecoin ecosystem to more than 60 exchanges, wallets, platforms, apps, and service providers.
As reported by Circle, Airswap, BlockMyTalent, Opensea, Atomic Wallet and Abacus Protocol have involved themselves in the USDC network, joining other major supporters, including Coinbase.
Acting as a sort of safe haven where crypto traders can park their assets in volatile markets, USDC is an Ethereum-based ERC-20 coin, which makes it easy for wallets, exchanges and other smart contracts to interact with the token.
Most recently, Binance enabled support for USDC deposits with trading on the stablecoin’s pairs, against Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that and Binance’s token BNB, already started on November 17.
Circle’s stablecoin is based on an open source fiat stablecoin framework developed and governed by the CENTRE project.
And in a bid to accelerate adoption of its service to tokenize the buck, Circle said it would no longer charge fees from customers redeeming USDC into US Dollars, making it more attractive for crypto exchanges, protocols, platforms, applications, and wallets.
What’s Next On The Horizon?
The topic of stablecoins is generating buzz in the crypto community these days. The major application for such assets has been as a mechanism for trading and hedging in global crypto capital markets.
Circle’s stablecoin goes head-to-head with other stablecoins such as Gemini Dollar, Paxos Standard, and Tether (USDT). The latter is a USD-backed stablecoin which is used as a proxy for physical money on many cryptocurrency exchanges. However, Circle’s New York BitLicense will offer a fully audited alternative, in contrast to Tether which has been the subject of controversy and regulatory scrutiny due to lingering questions about its cash reserves.