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Liquid, a recently launched cryptocurrency trading platform by Quoine – a fintech company licensed by the Japan Financial Services Agency (FSA), has announced its support two stablecoins.
USDC
The platform today announced that it will list USD Coin (USDC), a US dollar-backed stablecoin governed by CENTRE, an industry consortium co-founded by Coinbase and Circle. Initial USDC trading pairs will include BTC and ETH.
Liquid said that its platform will allow traders to “buy and sell USDC to protect their investments at times of price volatility, while the tokens can be quickly and cheaply transferred over the blockchain, far more efficiently than moving fiat.”
“We are thrilled to see Liquid launch support for USDC. As the leading exchange for the Japanese Yen market and a pioneer in the cryptocurrency exchange market, they are a strong partner for USDC,” said Circle CEO Jeremy Allaire.
Circle is actively working with the New York State's Department of Financial Services (NYDFS) to bring USDC to New York customers in a regulated way.
Gemini Dollar
In a separate announcement, Liquid said that it will also list the Gemini dollar (GUSD) on its platform. It said that it has teamed up with Gemini Trust Company with the objective of bringing much-needed liquidity and stability to the cryptocurrency space.
In September, the NYDFS authorized Gemini Trust Company to offer stablecoin, pegged to the U. S. dollar.
Initially, GUSD will be tradeable against Bitcoin and Ethereum. The platform plans to expand to additional pairs in the near future.
"We are excited to see Liquid's adoption of the Gemini dollar. We believe a truly regulated and transparent stablecoin is a huge step forward for the ecosystem and appreciate Liquid's support in bringing GUSD to their marketplace," said Gemini CEO Tyler Winklevoss.
