Published
5 years ago on
October 24, 2018
“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 Consortiumâ€In the blog post, it also claims that blockchain based virtual dollar is better and more efficient than traditional banking and that it’s a crucial step in the right direction for a more open financial system. As an ERC-20 token built on the Ethereum standard, the post continues to explain that USDC is compatible with most decentralised application on Ethereum. As reported by Bitcoin Magazine, this year has seen a relatively steady influx of stablecoin projects. As new products flood the market, exchanges like OKEx and Huobi have been very quick in adding the most notable of these. In the USDC company, these other stablecoins including the Paxos Standard, GeminiUSD and TrueUSD seem as more transparent, regulator friendly alternative to Tether. With all the stablecoins entering the space, it's difficult not to notice the once dominant Tether see itself losing its strength in the markets with all the competition in markets. This is the start of a far bigger development at Coinbase, who has recently announced that they are going to be adding more cryptocurrencies than ever before. Initially, Coinbase was seen as a prestigious exchange, simply because their listing process made listing cryptocurrencies quite an arduous ordeal. Now though, Coinbase have relaxed some of their policies in order to allow for bigger and better listings. We have already seen 0x added to the exchange, now, with the announcement of USDC live, we can only expect this momentum to continue. What are your thoughts? Let us know what you think down below in the comments!
