USDC Launch by Circle and Coinbase

USDC Launch by Circle and Coinbase

Coinbase users in supported territories can now transact with the stablecoin USDC through Coinbase website or in-app. It will be available in Coinbase Pro in the following weeks

The USD Coin or USDC is the initial stablecoin supported by Coinbase. Being a stablecoin, one of USDC’s characteristic is its 1:1 ratio with the US dollar. Its price will not see-saw relative to the market but instead reflects its reference currency.

USDC is now accessible on Coinbase Wallet. According to Coinbase, sending and receiving USDC becomes easier, even for large transfers.

About USDC

The offchain, USD backed collateral was introduced on 26 September. It is the result of collaborative efforts between Circle and the consortium CENTRE, which Coinbase is a part of. CENTRE developed its open sourced framework. Use cases for the USDC include settlements, remittance, and lending.

USDC is an ERC20 token and can be used with apps compatible with the wide range Ethereum ecosystem. Traders and consumers are not the only ones who can benefit from it. Developers and fintech firms harness the USDC as it is said to be easy to program with.

According to a report, the USDC is similar to Tether, TrueUSD, Saga, Monerium, and AAA Reserve.

Circle is a p2p payments technology firm. It was co-founded by Jeremy Allaire and Sean Neville. Crypto exchange Poloniex was obtained by Circle early this year.

Community Reaction

Jackson Palmer, the founder of Dogecoin (but is no longer involved with it):

Erik Voorhees, CEO of ShapeShift:

Arianne Simpson of Autonomous Partners:

Charlie Shrem, founder of


0.8867 USD 0.00%
0.00024637 BTC 0.00%
Volume, 24h

Related news

Bitcoin Would be Lone Survivor in Nuclear War ‘Hunger Games’: Charlie Shrem

By Bitcoiners, rejoice! Only bitcoin (and maybe roaches) would survive a nuclear holocaust. In contrast, banks and fiat money would literally go down in flames. That’s what crypto pioneer Charlie Shrem wants you to know as you ponder a hypothetical dystopian future. “If the unthinkable happens, Bitcoin would be a highly durable currency during nuclear war, The post Bitcoin Would be Lone Survivor in Nuclear War ‘Hunger Games’: Charlie Shrem appeared first on CCN

Bitcoin’s Liquid Sidechain Welcomes Japanese Yen Stablecoin

Blockstream has announced Crypto Garage, a joint venture with Digital Garage and Tokyo Tanshi, to serve the Japanese Bitcoin market. The partnership will soon launch the Liquid sidechain based SETTLENET suite, the first application of which will be a yen-pegged stablecoin. SETTLENET on Bitcoin’s Liquid Sidechain The SETTLENET suite aims to provide Japanese exchanges and OTC trading desks with enhanced liquidity, speed and security. Although why Crypto Garage feel the need to shout SETTLENET every time is anybody’s guess. Exchanges can issue the JPY-token (L-JPY) on the Liquid sidechain, and trade it against Liquid Bitcoin (L-BTC) using atomic swaps. Atomic swaps allow instant, trustless, peer to peer trading between different types of digital asset. Needless to say, Blockstream CEO, Adam Back’s tweet of the announcement attracted equal parts awe and mockery. The latter, in particular, from the Ripple-army, who were quick to point out how easily XRP could achieve this (though whether XRP is trustless is a different argument). Compliant With Japanese Regulations One of the Crypto Garage partners must have some friends in high places because SETTLENET has already received regulatory clearance. Both the Japanese Financial Services Authority and the Cabinet Secretariat approve. This leaves the JPY-token well-placed to be a key driver in Japanese Bitcoin market liquidity. CEO of Crypto Garage, Masahito Okuma, said: SETTLENET together with Liquid makes trustless Bitcoin trading a reality, in a sustainable regulated environment. This is going to lead to a huge boost in Bitcoin liquidity in Japan and cement the region’s place as a leader in the emerging Bitcoin industry. Liquid Growth The venture also marks the continuing growth of the Liquid Network sidechain since its launch last October. Blockstream market Liquid as a fast, secure, and confidential method for high trading-volume entities such as exchanges, brokers, and financial institutions to transact. JPY-token is just the beginning of Blockstream’s ambitions for the stablecoin market, according to CSO, Samson Mow: We expect SETTLENET’s Japanese yen token to be the first of many stablecoin issuances on Liquid. What do you think about the Liquid sidechain welcoming its first stablecoin? Share your thoughts! Images courtesy of Shutterstock, Twitter/@adam3us The post Bitcoin’s Liquid Sidechain Welcomes Japanese Yen Stablecoin appeared first on

Coinbase Pushes For Bitcoin Adoption On Asia’s Wall Street

Bitcoin Heavyweight Coinbase Forays Into Asia Bitcoin industry powerhouse Coinbase has long been a staple of America’s and Europe’s crypto ecosystems. However, the upstart, headquartered in the heart of San Francisco, has been slow to make a move on the Asian subset of investors, rumored to be the most influential group in the cryptosphere. And as such, other exchanges have taken Coinbase’s place as a go-to platform in the region. However, the company, valued at $8 billion in an October funding round, still sees potential in snagging the business of Asian institutions. As recently reported by Bloomberg, Kayvon Pirestani, the head of Coinbase’s institutional efforts in Asia, claimed that the continent and its constituents are “super important for the crypto ecosystem,” likely touching on the historical hegemony that crypto innovators in the region established. The firm executive added that the region is home to a mass of “some of the most active retail traders in the world,” and institutional ones too. These comments were released in tandem with a Coinbase blog post, which revealed that the company would be offering an array of services to firms on Asia’s version of Wall Street. Per the release, institutions that trade high volumes now have access to Coinbase Prime’s trading services, and the upstart’s custody service. The company also revealed that it will allow its Asian clients to “fund their accounts” via inbound and outbound SWIFT transfers. Through the aforementioned Bloomberg interview, Pirestani doubled-down on the perceived importance of the Asian market, stating: “I would argue that the Asia customer base is already moving the needle for the firm. One of our top five clients by revenue is in the Asian region.” Isn’t Coinbase Pivoting Away From Wall Street? Interestingly, Coinbase’s sudden foray into the institutional market in Asia comes amid reports that the company has begun to turn its back on Wall Street’s household names, instead focusing on crypto-centric funds situated on “San Fran’s Market Street.” The Block, who broke the news on the matter, revealed that Jonathan Kellner, the former chief executive at brokerage giant Instinet, wasn’t going to take a stint at Coinbase. This is contradictory to reports that claimed Kellner was going to head Coinbase’s institutional branch, formerly led by Adam White of Bakkt. Esteemed fintech journalist Frank Chaparro, citing a company spokesperson, divulged that Coinbase will not be seeing Kellner join its C-suite. Dan Romero, a long-time Coinbase top brass member did comment on the matter. Romero, who took Kellner’s likely role, remarked that while Jonathan is an “exceptional leader,” Coinbase thought it right to refocus its efforts on its retail business and hedge fund services, rather than broader institutional-focused products. Hinting that this sudden change was a result of developments in the broader crypto sector, Romero noted that this sector is “incredibly fast-moving,” adding that market conditions can essentially change on a dime. The de-facto Coinbase Institutional head later explained that his organization’s “focus on mainstream financial brands has cooled off slightly,” revealing scant details about the matter. While Romero seemed somewhat unfazed, CoinRoutes chief executive David Weisberger noted to The Block that Kellner’s departure is a “big loss” for the startup. So maybe, institutional interest is waning in America, but swelling across the pond. The post Coinbase Pushes For Bitcoin Adoption On Asia’s Wall Street appeared first on Ethereum World News.
Ethereum World News

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.