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USD Coin (USDC) is a stablecoin redeemable on a 1:1 basis for US dollars, backed by dollar denominated assets held in segregated accounts with US regulated financial institutions. The launch of USDC was powered by a collaboration between Coinbase and Circle through the co-founding of the CENTRE Consortium. Coinbase customers with US dollar accounts may exchange 1 USDC for US$1.00 (and vice versa) on Coinbase in jurisdictions where USDC support is available. The graph above reflects USDC’s current and historical redemption value of US$1.00, which may not match the price of USDC on other exchanges. Note: Coinbase only supports USDC running on Ethereum (ERC-20).
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The price of USD Coin has fallen by 0.03% in the past 7 days. The price declined by 0.01% in the last 24 hours. In just the past hour, the price shrunk by 0.05%. The current price is $1.00 per USDC. The new price represents a new all time high of $1.00.
The current circulating supply is 55,802,605,112.715 USDC.
USD Coin was mentioned in 3,772 out of 2,056,989 social media posts on Twitter and Reddit on Jun 28, 2022. 3,351 unique individuals are talking about USD Coin and it is ranked #73 in most mentions and activity from collected posts.
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Crypto usage in countries with unstable currencies could rise further if there’s a world downturn or if inflation continues to rise The post Global Stablecoin Adoption Points to Increased Dollarization appeared first on Blockworks.
Not all stablecoins are alike, analysts note – but regulations may be needed to compel audits and investor fairness.
Corporations are in an arms race to provide immediate 24/7 global settlements, and stablecoins are the solution The post The Stablecoin Era: A New Wave of Crypto Adoption appeared first on Blockworks.
The issuer of the USDC stablecoin has agreed to acquire Cybavo, a crypto infrastructure startup that serves institutional customers.
The New York Department of Financial Services introduced new policies aimed at protecting stablecoin investors.
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