Circle’s USDC Ethereum ERC20 Stablecoin Gains Support by 50 Crypto Platforms

Goldman-Sachs-backed platform Circle recently announced that the USD Coin (USDC) is receiving support from twelve additional companies. The coin is pegged to the USD.

A few of the companies that have added support for USDC Coin include Hanbitco, Gatecoin, FCoin, DDEX, SWFT, and QCP Capital. These platforms have added the coin and it is poised to be available on other exchanges as well. In total, there have been over 50 partners that have enabled the stablecoin ecosystem to receive the necessary support.

USDC seems to be a safe-haven for crypto traders so that they can place their assets in a marketplace that though volatile, may grow and develop. USDC functions as an Ethereum-based ERC20 token, which means that it is easy for wallets and smart contracts. The coin is also based on an open-source fiat framework that has been developed by the CENTRE project.

Circle is trying to promote adoption of the service and as a result, it has eliminate charge fees to redeem the coin into USD. This makes it an attractive form for crypto exchanges, applications, protocols, and wallets.

According to Circle’s Claire Wells, she will discuss at a panel major questions that stand out in the cryptocurrency industry – such as, whether tokens re securities. Other participants include Aleks Nowak, and others.

The stablecoin is currently competing with other stabecoins like Paxos Standard and Tether.

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