Usd Coin Usa county Centre cryptocurrency USDC Usd Coin Usa county Centre

Understanding premier stablecoin USD Coin and what works for it

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moneycontrol.com

Stablecoins such as the USD Coin (USDC), are emerging as the preferred medium for transacting seamlessly across the globe and as a link between relatively volatile cryptocurrencies and real-world fiat currencies.The USDC protocol, launched jointly by Coinbase and Circle called Centre in 2018, was created to offer crypto users and investors the ability to transact with USD Coin, its native token that is pegged to the US dollar.Stablecoins can be pegged to a fiat currency or an asset such as gold.

The creators of USDC decided to algorithmically bind its value to the dollar, which is the world’s reserve currency and most preferred denomination for international transactions, to spur its adoption at a faster rate.Watch | MC Explains: What happens to investors’ money when crypto firms go bust?USDC is effectively a digital form of the dollar.

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