Circle Rolls Out Its Own Stablecoin

  • Alex Dovbnya
    📰 News

    Crypto finance startup Circle is reportedly launching its own stablecoin dubbed USD Coin (USDC). At first, the new currency will be listed on Circle's Poloniex exchange


Circle Rolls Out Its Own Stablecoin

Crypto finance startup Circle, backed by US banking behemoth Goldman Sachs, is reportedly launching its own stablecoin dubbed USD Coin (USDC). At first, the new currency will be listed on Circle's Poloniex exchange, but later it is expected to appear on other exchanges as well, including KuCoin and OKCoin.

Circle will allow its users to deposit USD directly from their bank accounts and convert it to USDC while paying a 0.1 percent commission.  

Circle made an announcement about launching a dollar-pegged cryptocurrency back in May after having a $110 mln funding round. Jeremy Allaire, CEO of Circle, earlier compared the new stablecoin to a dollar operating on Blockchain.

Just a month ago, the Winklevoss brothers introduced their first dollar-pegged cryptocurrency.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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