Great information arrives in today’s crypto news where the leading crypto brokerage and exchange company Coinbase joined forces with Circle to launch the digital dollar USDC.
Coinbase has already provided approval for the latest USD-pegged crypto stablecoins that will likely replace tether as the leader on the market. This Tuesday, they announced that customers can now buy, sell, send and receive USD coin which was initially launched by Circle.
Customers can now send and receive the token around the world and this token is backed by physical dollars that are stored in company-controlled bank accounts. Customers living in New York are excluded however to buy and sell the token on Coinbase.com. USDC is not yet listed on Coinbase Pro but as the company says, it will be added in the following days.
Coinbase stated:
“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.”
According to Coinbase, they claim that stablecoins such as USDC are perfect for e-commerce and business purposes. Payments done with the token can be made at any time of the day which makes it a perfect tool for entrepreneurs and small businesses.
Circle, on the other hand, governs the issuance of the USD Coin and is a founding member of the CENTRE Consortium. They are cooperating with Coinbase so they could build and even further improve the technology behind USDC on the Ethereum network.
Circle expressed their excitement for the collaboration and said that they are looking forward to welcoming new partners to expand this vision and idea.
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