Coinbase adds support for USDC stablecoin
American cryptocurrency company Coinbase announced the addition of support for the USD Coin (USDC) stablecoin issued by the payment company Circle last month.
Starting today, Coinbase customers in served jurisdictions can buy, sell, send, and accept USDC through Coinbase.com and iOS and Android apps. USDC became the first stablecoin and the second ERC20 token on Coinbase. Earlier this month, Coinbase integrated project 0x’s own ERC20 token under the ticker ZRX.
“The underlying technology behind USDC was developed in collaboration between Coinbase and Circle, partners and co-founders of the new CENTER consortium,” the company notes. “The advantages of a blockchain digital dollar like USDC are that it is easier to use in software, transfer, implement in decentralized applications, and store it locally than a dollar in a traditional bank account. This is why we see it as an important step towards a more open financial system. “.
USDC support will be added to Coinbase Pro “in the coming weeks.” Users can currently treat USDC like any other asset in the Coinbase wallet..
Circle, for its part, in a separate message today announced the official launch of the CENTER consortium with Coinbase, which was announced earlier this year..
“Coinbase and Circle have a common vision of an open, global financial system based on cryptocurrencies and blockchain. Realizing this vision requires the collaboration of industry leaders to create interoperable protocols and standards, ”writes Circle. “CENTER was formed to develop these standards and the technology that is required to work with Fiat on the Internet.”.
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