Digital Asset Custody Company (DACC) an important and recognized custody solution for institutions, announced a new service for the stablecoin USD Coin (USDC). The USD Coin has been released by the financial company Circle just a few weeks ago.
Matthew Johnson, co-founder and chief product officer at DACC said that stablecoins are growing very fast and it is important to offer the services that companies are searching for.
DACC it is already offering solutions to more than 90 different cryptocurrencies and 12 blockchains. At the same time, it is working with different institutions, hedge funds, private equity firms, family offices and more. As the market continues to expand, DACC is working to offer solutions to these companies.
Joao Reginatto, Head of Product for USDC, commented on the matter:
“We appreciate the hard work DACC has put in to develop a custody solution for USDCm and managing to do so within days of our release. USDC has already received impressive interest and investment in its first week on the market, and we’re happy that investors have trusted custody solution to safeguard their USDC assets.”
Stablecoins have been expanded in the market in order to provide stability to the cryptocurrency market. As virtual currencies are very volatile, stablecoins reduce this volatility by pegging the asset to a specific fiat currency. In this case, the USDC is tied to the US dollar.
Additionally, DACC provides token and crypto support to different companies in the space. The company is managed by a team that is comprised of investment and manager executives, skilled hedge und operations personnel and many other experts in cybersecurity, finance and technology.
Doug Schwenk, co-founder and Chariman of DACC explained that their mission is to serve institutional investors with support for any digital asset or token.
With more institutional-grade platform will clearly allow new investors and companies to enter the cryptocurrency market helping cryptocurrencies to expand all over the world.