• Sat, 24 Aug 2019, 08:01 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Coinbase extends USDC stablecoin trading to 85 countries

Image by Marco Vech Professional Photographer and Speaker photstream

Wed, 15 May 2019, 11:58 am UTC

Cryptocurrency exchange platform Coinbase revealed it has expanded support for crypto-to-crypto trading for USD Coin (USDC) to 85 countries.

In a blog post released on Tuesday, Coinbase said that its crypto-to-crypto trading can be done on both its retail Coinbase.com site and Coinbase Pro service.

Pointing out some of the advantages of using USDC over cash, the exchange said, “Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparent audits showing 100% USD backing.” It also touted its strengths over cash, saying USDC can be moved “near-instantly and globally,” utilized in different dapps, and stored securely in crypto wallets.

The California-based firm also said USDC can help countries suffering from inflation.

For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation,” Coinbase said.

We see USDC as an important step towards a more open financial system,” Coinbase said, noting that there are already over 300 million circulating USDC and more than 100 ecosystem supporters.

In the same announcement, Coinbase said it now offers trading services in 103 countries, which includes the recent addition of 50 countries. Last year, the number only stood at 32 nations.

It also revealed that its investment arm Coinbase Ventures is working with projects like AirTM to boost fiat payment rails. AirTM leverages technology to deliver first-class financial infrastructure to people to promote economic freedom.

Those who are technologically savvy know that if everyone learns how to use cryptocurrencies, many economic problems that we have today would no longer exist,” AirTM said.

Meanwhile, Coinbase Custody has added support for more than 20 new cryptocurrencies in 2019, including major ones like Augur (REP), ZCash (ZEC), and Tezos (XTZ). It has also added more features and support for the assets such as offering staking services for offline assets and providing OTC trading from cold storage.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,106.60 (-2.86%)
  • Ethereum (ETH) $189.69 (-2.31%)
  • XRP (XRP) $0.272100 (-1.36%)
  • Bitcoin Cash (BCH) $306.77 (-1.94%)
  • Litecoin (LTC) $73.20 (-2.51%)
  • Bitcoin (BTC) $10,106.60 (-2.86%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft