Coinbase to List First Stablecoin

TotalNews1

Total News – Atlanta, GA 10/24/2018. Coinbase Inc, one of the biggest U.S. cryptocurrency exchange, announced that it will support USD Coin stablecoin (USDC). This makes the first stablecoin for trade on the platform.

Coinbase customers in supported jurisdictions can now buy, sell, send and receive the USDC at Coinbase.com and in the Coinbase iOS and Android apps. U.S. customers outside New York state can buy and sell, and customers around the world can send and receive. Coinbase has also announced that more locations will be available in the future.

According to the announcement, "The underlying technology behind the USDC was developed collaboratively between Coinbase and Circle." The joint venture is known as the "Centre Consortium"

The blog post claims that a "blockchain-based digital dollar" like USDC is more efficient than traditional banking and is "an important step toward a more open financial system."

Coinbase Pro will begin supporting USDC in the coming weeks and the token is already supported on Coinbase Wallet.

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