Coinbase expands its global footprint

Posted 15 May, 2019

Coinbase cryptocurrency exchange expands trading of stablecoin USD Coin (USDC) pegged to the US dollar to 85 countries of the world, adding access to the platform services in additional 50 countries. The company's official blog reports that the total number of countries in which users can work on the Coinbase platform has reached 103.

According to the official blog, the exchange stated that now USDC for newly served jurisdictions is available both on the retail site and on the Coinbase Pro professional platform.

Coinbase in its message did not miss to remind and highlight the benefits of USD Coin.

"Unlike other cryptocurrencies, each USDC is backed by $ 1 USD with 100% USD backing."

In addition, the company stressed the importance of USDC-type assets in emerging economies and the volatility of national currencies:

"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."

It should be mentioned that the USDC currency format was launched in late 2018 by a group of companies, including a crypto-financial startup Circle. The CENTER consortium has developed a coin as a means to easily transfer value in public blockchains.

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15 May, 2019 16:31

← Huobi Group opens regulated OTC desk

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