Stablecoins are becoming very popular around the cryptomarket. The US crypto exchange Coinbase has already become a part of the companies who have started offering to trade in them. Circle, which is a Goldman-funded tech startup is now offering their USDC to retail investors. The investors will be able to gain access to them through the company’s Android and iOS apps. Coinbase Pro will also be a platform that will soon be available for them as well.
The USDC is an Ethereum-based ERC-20 coin. In the words of its creators, it will become a safe place for traders to store their assets when markets become way too windy. The fact that it is an Ethereum-based ERC-20 coin, makes it a lot easier for wallets and exchanges to interact with it.
There are so many tokenized fiat currencies that it is becoming to list them all, but there are still some top players like Gemini Dollar, Tether and Paxos Standard. All of which the USDC will have to compete with.
What’s the deal with stablecoins?
Stablecoins are now offering so much more diversity in cryptocurrencies. Now it will be a lot easier to develop innovations and make changes tailored to specific markets. Not only will this increase the profitability, but also the acceptance of cryptos for different markets. The reason behind it is that traders will now be able to access the Blockchain technology through familiar fiat currencies, further increasing interest for the industry. Plus, it will decrease their risk and overall balance the volatility that comes with new waves of traders.
if you want a first-hand information delegation experience, you can meet Claire Wells from Circle at the London Summit 2018, where he will be discussing the additions of stablecoins and of course the main questions revolving around cryptocurrencies in general. The main discussion will be about the clarification of tokens being securities.
Coinbase is growing
Coinbase is slowly growing its number of featured cryptocurrencies on its platform. Therefore making it a lot more accepted in the US market to trade with them. This new USD Coin will be its seventh listing following the latest addition of ZRX. Not only these, but you can also have access to Litecoin, Ethereum, Ethereum Classic, Bitcoin and Bitcoin Cash on the exchange’s platform.
Coinbase is very excited for the latest addition, coming out with an announcement, in which they stated that the blockchain-based digital dollar will be a valuable asset for the modern digitalized world, as it will make it easier to program with it an use it in Apps that have been flooding the market recently.