BitMart Exchange Announces USD Coin (USDC) Listing, a Goldman Sachs-Backed Stablecoin
In a press release, BitMart Exchange, a cryptocurrency trading platform, has listed a Goldman Sachs-backed stablecoin, USD Coin (USDC). Issued by Circle, a cryptocurrency firm, the dollar-pegged digital asset will allow BitMart to have a more open financial system.
Speaking about the new dollar-backed stablecoin, the CEO and Founder of BitMart, Sheldon Xia, said that:
“Since BitMart’s mission is to offer secure financial services and high liquidity ratio in the crypto trading market, it is important for us to provide investors with diverse stablecoins that have acceptable capacity to reduce investment risk.”
First Stablecoin to be supported by Coinbase
The technology begin USD Coin was developed by Circle and Coinbase, making it the first stablecoin to be supported by the biggest cryptocurrency brokerage.
The coin is basically a blockchain-based digital currency, with each token strictly pegged to the U.S. dollar in the ratio of 1:1. This makes it a great choice for programmers, considering it can be easily sent and used in dApps without worrying about loss of value.
Second Stablecoin to be listed by BitMart
USD Coin isn’t the first stablecoin that BitMart has listed. The cryptocurrency exchange platform recently announced the listing of Gemini Dollar, which its users have been using.
According to BitMart, two ERC20 stablecoins will enable investors to use Etherscan when searching and tracking their transactions, guaranteeing them a more transparent and trustworthy experience.