Coinbase has just announced that they are increasing their support for crypto-to-crypto trading around the world. The crypto company has added USDC trading for customers in 85 countries. The company is trying to expand and reach new customers from different regions, enabling access to a stable store of value.
Coinbase Expands USDC To 85 Countries
The San Francisco-based cryptocurrency exchange announced that it has added the stablecoin USD Coin (USDC) to 85 new countries. Moreover, they have launched crypto-to-crypto trading services to 50 new countries. In this way, Coinbase has a presence in 103 jurisdictions.
The main intention is to reach a large number of users by leveraging stablecoins as a non-volatile digital asset that can be used to connect investors to other cryptocurrencies. A few months ago, the company expanded to 11 new countries. The exchange is expecting users to be able to participate in the market through stablecoins.
Coinbase wrote about the new services:
“We’re welcoming more people around the world to trade between different cryptocurrencies on a trusted platform. This helps accelerate the global adoption of crypto trading, and with USDC, enables access to a stable store of value.”
There are several countries now included such as Argentina that could be benefited due to the high inflations rates and economic issues that it has experienced over the last years.
USDC was launched back in autumn by several companies, including Circle. The intention was to create a digital currency that would make it easy to transfer value using public blockchains.
At the time of writing this article, USDC is the second largest stablecoin in the market with a market capitalization of $348 million.