Circle’s Stablecoin Now Available on Coinbase

News
Tue, 10/23/2018 - 17:33
Alex Dovbnya
Coinbase joins the “CENTRE Consortium” together with “Bitcoin unicorn” Circle in order to form a standardized set of rules for cryptocurrencies backed by fiat ones
Cover image via U.Today

Coinbase, one of the biggest fiat-to-crypto exchanges in the world, joins the “CENTRE Consortium” together with “Bitcoin unicorn” Circle in order to form a standardized set of rules for cryptocurrencies backed by fiat currencies. That effort is supposed to accelerate the adoption of so-called stablecoins.

Circle’s USD Coin (USDC), which was launched back in September, reportedly becomes the first stablecoin listed on the San Francisco-based exchange. Coinbase claims that the coin is a stepping stone to establishing a more open financial system. It provides more flexibility than the US dollar in terms of programming and conducting day-to-day transactions.

As U.Today reported earlier, Circle CEO Jeremy Allaire, who is a huge Bitcoin permabull, earlier claimed that cryptocurrencies will make the Internet look like “a cute experiment.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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