A Dozen New Companies Are Supporting USD Coin
USD Coin has been the hot cake of the crypto ecosystem as of late. In under a month, the coin is already ranked 58th by market size on CoinMarketCap. The circulating supply has reached over 125 million with a 24-hour trading volume of about $2 million.
The latest exchanges to incorporate USDC are BitMart, Bit-Z, DDEX, FCoin, Gatecoin, Hanbitco, Hotbit, QCP Capital and SWFT Blockchain. Crypto loan provider NEXO has announced to be working on the addition of the stablecoin. Wallet providers BitKan an Tokenare permit their users to use USDC for their various services.
In total, about 50 companies have welcomed USDC in just over two weeks since its issuance. A large number of companies getting on board is because of CENTRE Consortium which was founded by circle and Coinbase.
Bootstrapped by grants from founding member, an early form of these protocols is in making. servicing millions of customers. CENTRE’s software implementation will be handled by an organization designed just for this purpose. It will provide the support, governance and ongoing R&D for the project.
Circle To Remove Redemption Fees
USD Coin is the crypto ecosystem’s first open, fungible and interoperable fiat stablecoin as their users are given the ability to tokenize their dollars into USDC, which can be converted back into dollars from Circle and Coinbase
Circle has further announced that they will no longer be charging fees who are converting USDC to US dollars. This is likely a move to capitalize on the booming popularity of the stablecoin