The unparalleled ecosystem for USD Coin (USDC) continues to grow now that six new companies joined dozens of other exchanges, protocols, platforms, applications and wallets to support USDC.
USDC is available on a growing number of exchanges and trading platforms, with South Korea-based Hanbitco and U.S.-based Everbloom becoming the latest. Dispatch Labs and HACERA are both invested in building enterprise-grade blockchain solutions spanning multiple use cases, where payments and settlement are typically needed. It is exciting to see them join the USDC ecosystem. Finally, wallet providers BitUN and Cobo now allow their customers to safely store USDC, or use it to interact with various other services.
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These new USDC supporters will play an essential role in pushing forward an open standards model for fiat money on the internet that has the potential to bring about significant innovation in financial infrastructure. Investors and traders need seamless on and off-ramps for fiat currency into the exchange ecosystem, and need to be able to hedge in and out of volatile crypto assets, as well as move stable value across exchange venues to seek arbitrage and liquidity opportunities.
USDC was launched by the CENTRE open source consortium last week and Circle was the first commercial issuer. Individuals and institutions can enroll in this service to deposit US dollars from bank accounts, convert those dollars into tokens usable everywhere the internet reaches (subject to the token’s compliance controls), and redeem USDC tokens and cash out to bank accounts.
Learn more about USDC and sign up or sign in to tokenize and redeem USD here.
