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USDC Issuer Circle Plans To Pour Investment In Circle Reserve Fund Amid Bearish Market

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The USDC issuer has started investing funds into its CRF (Circle Reserve Fund) to ensure that holders can redeem their coins when they want.

Many crypto firms faced issues this 2022 due to the market crash. Some downsized, while others filed for bankruptcy. Generally, the entire market felt the impact of the crypto winter, and investors lost billions of capital too.

As a result, those that survived the crash are taking measures to avoid such situations in the future. Also, most firms are aiming better to protect their customers’ funds in times of crisis. On this note, Circle has taken a bold step to prepare itself for such situations.  Read more...

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How This Coinbase Feature Could Make USDC A Universal Currency

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Crypto exchange Coinbase wants to boost the adoption of stablecoin USDC. The company will support free trading commissions for users buying the digital asset. According to an official announcement, the new feature is available for any fiat currency on the crypto exchange from “AUD to ZAR.” 

In 2018, Coinbase and U.S.-based fintech Circle partnered to create the Centre Consortium, the company behind the development of USDC. In the United States, the digital asset has seen good levels of adoption, with its market cap growing 150x over the past three years, as seen in the chart below. 

Source: Coinbase  Read more...

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Zero Bitcoin Fees & USDC Delisting: How Binance Is Pushing For Larger Marketshare

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The crypto exchange Binance has recently continued to push for growth in its share of the Bitcoin volume, as well as the stablecoin market.

Binance Zero Fees Leads To Big Surge In Bitcoin Trading Volume, Exchange Drops USDC Support

As per the latest weekly report from Arcane Research, the volume on Binance has remained substantially more than the rest of the market.

The “daily trading volume” is an indicator that measures the total amount of Bitcoin being transacted in spot markets on any given day.  Read more...

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Two Soccer Teams Transfer a South American Player Using USDC, But There’s Collateral Damage

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The news was hailed as a historic event for South American football, but it could bring unexpected consequences for Argentinian club Banfield, amid local FX restrictions.
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Neutral announces stablecoin NUSD initially comprising of USDC, TUSD, DAI, PAX

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Neutral announces stablecoin NUSD initially comprising of USDC, TUSD, DAI, PAX
Open financial protocol Neutral, which is developing a suite of financial products on-chain, announced in a press release CoinReport received from Wachsman, Neutral’s communications firm, the launch of its first product, a stablecoin called Neutral Dollar (NUSD). NUSD is initially comprised of PAX, …

The post Neutral announces stablecoin NUSD initially comprising of USDC, TUSD, DAI, PAX appeared first on CoinReport.

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Binance Adds USDC Trading Pairs for the Top-5 Cryptocurrencies

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Binance, the world’s most popular cryptocurrency exchange, announced Friday that it has listed 7 new trading pairs for USD Coin (USDC), a dollar-pegged stablecoin created by Coinbase and Circle via the CENTRE Consortium. NEWS: @binance lists new USDC pairs for 7 of their most actively traded crypto assets #BTC #ETH #XRP #BNB #EOS #XLM #USDT https://t.co/NZPoUBDV3R — CENTRE (@centre_io) December 14, 2018 According to […]
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Binance Adds USDC Trading Pairs – Stellar and Ripple Represented

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Binance announced Friday that it would be adding a few new USD Coin pairs and moving its two existing USDC pairs into the combined stablecoin market called USDⓈ. Both ripple (XRP) and stellar (XLM) will have USD Coin pairs, in addition to their existing stablecoin pairs. The move involves the cancelling of any trades that

The post Binance Adds USDC Trading Pairs – Stellar and Ripple Represented appeared first on CCN

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Stablecoin Wars: Poloniex Extends Fee-Free USDC Trading

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As we previously reported, Circle’s Poloniex participation in the stablecoin wars is evident in their decision to not charge fees on use of USDC on their platform. For the month of November, trades in USDC were not charged any fees at all. According to an e-mail blast from Poloniex, this amounted to more than $ 500,000

The post Stablecoin Wars: Poloniex Extends Fee-Free USDC Trading appeared first on CCN

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Bitfinex Adds Four Stablecoins Including GUSD and USDC

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Bitfinex Adds Four Stablecoins Including GUSD and USDC

Bitfinex, together with its sister exchange Ethfinex, has announced the introduction of four new stablecoins. The additions take the platforms’ total number of dollar-pegged tokens to six and provide a reassuring range of tether alternatives for traders. Trustless, Ethfinex’s decentralized exchange (DEX), will also be listing all six, including the Gemini dollar (GUSD) and Circle’s USD Coin (USDC).

Also read: Atomicpay Launches Private Beta of Digital Currency Payment Gateway  Read more...

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Independent Firm Verifies Crypto Giant Circle’s USDC Reserves

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Circle has announced that it has contracted an independent accounting firm, Grant Thornton LLP, to verify through attestation reports the dollar reserves thaCirclece maintains to back the USDC token. Circle joins Paxos Standard in doing this on a monthly basis. According to the findings of Grant Thornton, Circle actually has about $ 4,000 more than it has

The post Independent Firm Verifies Crypto Giant Circle’s USDC Reserves appeared first on CCN

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Grant Thornton Attests USDC Is Backed by Fiat, Huobi Sets Up Communist Party Branch

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Grant Thornton Attests USDC is Backed by Fiat, Huobi Establishes Communist Party Branch

In exchange news, we look at a major accounting firm’s attestation that all USDC tokens issued by Circle are fully backed by fiat dollars. We also focus on a Huobi Group subsidiary that has set up a Chinese Communist Party branch, as well as Bakkt, which has listed the reasons behind its move into bitcoin.

Also Read: US Bank That Serves 483 Cryptocurrency Companies Is Seeking an IPO  Read more...

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Top 5 CPA Firm Confirms Funds in First Attestation of Circle’s USDC

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Circle USDC Attestation

Circle’s USD Coin (USDC) has released an independent, third-party attestation of its bank account, and according to a top 5 public accounting firm, the stablecoin has its funds in order.

The attestation was performed by Grant Thornton LLP, one of the largest accounting firms in the U.S. and is the first of what is to become a monthly occurrence for the stablecoin. In the report, which was conducted for the month of October and was signed on November 16, 2018, Grant Thornton found that Circle Internet Ltd. holds $ 127,412,240.89 in a custody account for USDC. This amount is enough (and then some) to cover the outstanding 127,408,827 USDC in circulation at the time of the attestation.  Read more...

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Binance the Latest Exchange to List Goldman Sachs-Backed USDC Stablecoin

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Leading cryptocurrency firm Binance has become the latest exchange to list the USDC stablecoin. In a statement, the cryptocurrency exchange indicated that trading of the USDC and bitcoin (USDC/BTC) pair, as well as the Binance token and the USDC (USDC/BNB) pair, will commence on November 17. Depositing the stablecoin which is pegged on a one-to-one

The post Binance the Latest Exchange to List Goldman Sachs-Backed USDC Stablecoin appeared first on CCN

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Binance Will Support USDC Trading Starting November 17

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USDC binance

Binance — one of the most popular digital currency exchanges across the globe — has announced that it will be adding the fiat-collateralized stablecoin USD Coin (USDC) to its trading platform on November 17, 2018. USDC will be grouped into trading pairs with bitcoin and Binance’s own token, BNB.

The company made the announcement on its official blog, making particular note of the auditing process USDC undergoes to prove that each coin is backed 1:1 with the USD.

“For increased transparency, USDC has engaged a top-ranking auditing firm to release monthly balance attestations of the corresponding USDC and USD balances held/issued,” the post reads.  Read more...

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Stablecoin Wars: Poloniex Eliminates USDC Trading Fees in Bid to Boost Volume

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In case you missed it, Poloniex, one of the major altcoin exchanges, was acquired by Circle in February. Previously, Circle was focused primarily on the major coins versus fiat pairings, but since its acquisition of Poloniex it has had the opportunity to dive into more tokens, and in September it launched its own stablecoin to

The post Stablecoin Wars: Poloniex Eliminates USDC Trading Fees in Bid to Boost Volume appeared first on CCN

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Coinbase Adds Support for Circle’s USDC Stablecoin

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San Francisco-based cryptocurrency giant Coinbase announced today that it has added support for USD//Coin (USDC), a stablecoin created by competing crypto exchange Circle, the owner of Poloniex. According to the announcement, USDC is already listed on Coinbase’s retail website and supported by Coinbase Wallet, the user-controlled wallet for storing ERC-20 tokens. The dollar-pegged stablecoin will be coming to Coinbase Pro in […]
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Breaking: Crypto Giants Coinbase and Circle Launch Digital Dollar ‘USDC’

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Cryptocurrency exchange and brokerage giant Coinbase has provided a major stamp of approval to one of several recently launched USD-pegged cryptocurrency “stablecoins” seeking to supplant tether (USDT) as the leader in this burgeoning market niche. The San Francisco-based Coinbase on Tuesday announced that beginning today, customers can buy, sell, send, and receive USD Coin, the

The post Breaking: Crypto Giants Coinbase and Circle Launch Digital Dollar ‘USDC’ appeared first on CCN

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Circle’s Stablecoin (USDC) Has Grown 85% in the Past Week

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In the wake of the bizarre trading activity surrounding most major stablecoins, Goldman Sachs-backed circle has released a report indicating that their USD//Coin (USDC) has seen significant increases in daily trading volumes, a surge in its market cap and widespread adoption across the crypto industry. Since it was launched three weeks ago, USD//Coin (USDC) has seen significant increases […]
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BitPay Adds Settlement in Gemini Dollar (GUSD) and Circle Coin (USDC)

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bitpay

In a press release today, Bitpay – the largest bitcoin payment provider – announced that they are now supporting settlement in two more currencies: Circle (USD) Coin, and Gemini (US) Dollar.

The decision to add settlement in stablecoins makes perfect sense during these volatile periods. It allows merchants to avoid any market volatility by converting payments received in BTC or BCH to a stablecoin.

Stephen Pair, co-founder and CEO of BitPay said:

“The introduction of the USDC and GUSD stable coin offers BitPay customers a new alternative to holding Bitcoin and Bitcoin Cash by offering a stable coin option.”  Read more...

This is a preview of BitPay Adds Settlement in Gemini Dollar (GUSD) and Circle Coin (USDC). Click Here To Read the full post

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