USDC stablecoin to replace USDT

My FX Forum

Staff member

USDC stablecoin to replace USDT

The largest cryptocurrency exchange has included USDC stablecoin in the list of traded digital currencies which is a brainchild of Circle payment company. The new currency was introduced only a month ago, but it is already used on many trading platforms. It is really a great success. The reason is that this coin is backed by the US dollar.

“Coinbase and Circle share a common vision of an open global financial system built on crypto rails and blockchain infrastructure, and realizing this vision requires industry leaders to collaborate to build interoperable protocols and standards,” Circle said. “CENTRE was formed to develop these standards and technology which is necessary for working with fiat on the Internet,” it added. General views on the future of cryptocurrencies and the global financial system as a whole have become a reason for joint work. As a result, the CENTRE Consortium project appeared. Its main aim is to accelerate the adoption of cryptocurrencies supported by real assets, such as the dollar.

“The underlying technology behind the USDC was developed collaboratively between Coinbase and Circle, in our capacity as partners and co-founders of the new CENTRE Consortium,” the company said. “The advantage of a blockchain-based digital dollar like USDC is easier to program with, to send quickly, to use in dApps, and to store locally than traditional bank account-based dollars. That’s why we think of it as an important step towards a more open financial system.”

Published: 2018-11-01 21:18:23 UTC