Coinbase launches USDC stablecoin

Coinbase has announced support for USDC, which is short form of US Dollar Coin. It is supported by Coinbase and Circle, which owns Poloniex cryptocurrency exchange.

usdc

USDC is available for buy, sell, send or receive on all Coinbase applications and coinbase.com. Anyone outside New York will be able to buy/sell USDC and anyone around the world can send/receive it.

What is USDC?

USDC is a 1:1 representation of a US dollar on the Ethereum blockchain. Each USDC is 100% collateralized by a corresponding USD held in accounts subject to regular public reporting of reserves.

Think of USDC like a digital version of dollar that can be stored in most of the ethereum wallets out there. The USDC can thus be used as a stable digital dollar to buy items in the crypto ecosystem, from Cryptokitties to tickets for blockchain-based games.

USDC will be coming to Coinbase Pro in the coming weeks, and is already supported on Coinbase Wallet, a user-controlled wallet where people can store ERC20 tokens.

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