USD Coin has been in the spotlight lately and the reasons shouldn't be far-fetched for anyone who has been following proceedings in the crypto ecosystem lately. In less than a month, the company rose in value and notched the 58th position of prime cryptocurrencies, according to information on CoinMarketCap. More overwhelming is the circulating offer of the coin which surpassed 125 million with a 24-hour trading volume of concerning $2 million.
Not less than 12 exchanges, according to an official blog post from Circle, have expressed their plans of joining the ecosystem for the incorporation of the USD coin. The exchanges are BitMart, Fcoin, Gatecoin, Hanbitco, Hotbit, SWIFT, OCP Capital, DDEX and Bit-Z. The world’s 1st instant crypto-backed loan provider; Nexo conjointly disclosed the ongoing method of adding the stablecoin. Users of Shenzhen-based cryptocurrency startup Bitkan and wallet provider Tokenary can also store and use USDC to hold out various services.
The last two weeks recorded a surge in the number of companies granting reception to USDC since the token was issued. About 50 companies are coming on board and the motivation stems from the collaboration between Circle and Coinbase that led to the establishment of CENTRE consortium.
Bootstrapped by contributions from foundation members Circle and Coinbase, an early sort of these protocols in production today servicing millions of customers. CENTRE envisions a decentralized and independent system wherever its software implementation will be handled by an organization completely set up for this purpose. It'll offer the support, governance and current research and development for the project.
Circle Announces decide to remove Redemption Fees
The regulated money Transmitter Circle has determined to prevent the charging of fees for the conversion of USDC to US dollars. This call could be a excellent way to latch onto the burgeoning popularity of the stablecoin.
USD Coin seeks to remove the attendant time challenges related to the movement of dollars anyplace in the world. The software-compatible fiat stablecoin infuses stability within the crypto space and opening new frontiers for trading, risk hedging, lending and beyond. Thus, users can tokenize their dollars into USDC and vice-versa from Circle and Coinbase. USDC is acceptable for crypto-only exchanges.
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