Circle Crypto Company Issues New Tokenized Dollar USDC
The team of the Circle company, which owns the Poloniex crypto exchange, announced the launch of a new token, pegged to the US dollar, on its official website. The stablecoin was named USD Coin (USDC).
Circle, specializing in the development of P2P payment systems, gained the assistance of 30 partners, including crypto exchanges, decentralized platforms, and other crypto projects.
The stablecoin was developed on the CENTRE platform and will be issued by Circle. USDC will soon be accessible on such trading blockchain platforms as IDEX, Paradex, Radar Relay, and Tokenlon.
Paradex chief executive Ron Bernstein stressed that stablecoins pegged to the fiat are a key part in the development of decentralized ecosystems. His team is very pleased with the fact that Circle and CENTER are developing a project that will provide a direct transition between conventional financial systems and open financial technologies of the future.
Investors and financial institutions will be able to convert dollars into USDC from their bank accounts and vice versa – to bring stablecoins to bank accounts through CENTER. According to a report on the official website, initially, USDC will be traded on Poloniex, and later it will receive support from crypto wallets, namely BitGo, Coinbase Wallet, Ledger, and others.
As previously reported, the Poloniex crypto exchange supports five new pairs with Tether stablecoin (USDT) on its platform.