Crypto exchange Coinbase has added support for the Circle-issued stablecoin, which was first announced last month.
“Coinbase customers in supported jurisdictions can buy, sell, send and receive the USD Coin stablecoin (USDC) at Coinbase.com and in the Coinbase iOS and Android apps. US customers outside New York state can buy and sell, and customers around the world can send and receive. More geographies will be available in the future,” it says in a blog post.
This is the first time Coinbase has supported a stablecoin. The underlying technology behind the USDC was developed in conjunction with Circle, in their capacity as partners and co-founders of the new CENTRE Consortium.
“The advantage of a blockchain-based digital dollar like USDC is easier to program with, to send quickly, to use in dApps, and to store locally than traditional bank account-based dollars. That’s why we think of it as an important step towards a more open financial system,” the blog post states
USDC will be coming to Coinbase Pro in the near future, and is already supported on Coinbase Wallet.
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