USD Coin: a growing cryptocurrency from China
USD Coin is a stablecoin launched by the Coinbase trading platform together with the operator of the Bitcoin exchange Poloniex Circle, and operating on the Ethereum blockchain. The tool is pegged to the value of the American dollar in a ratio of 1: 1. According to the developers, the asset is a digital analogue of the US national currency.
Replenishment: the token can be obtained on the official Circle website, bought for its dollars, on cryptocurrency exchanges (Coinbase, Poloniex, Binance, Bit-Z, BitFinex, KuCoin, Liquid, Okex and others), in exchangers.
Storage: any wallets that support the ERC-20 standard (for example, Coinbase Wallet, MyEtherWallet, Mist, Coinomi).
Advantages of the system:
- Early listing of stablecoin on large cryptocurrency platforms
- Developer collaboration with major financial institutions such as Goldman Sanchs, Tusk Ventures, Breyer Capital
- A small commission in the network compared to bank transfers
- High security for institutional investors (verification and KYC required)
- USD Coin Coin Limits Not Defined
- Compliance of the project with US law and the standards of financial regulators
- USD Coin is an alternative to fiat funds due to the high speed of transactions.