Recently, Goldman Sachs-backed blockchain firm, Circle stated that 6 new organizations have joined the bandwagon in supporting the platform’s newly launched stablecoin, USD Coin [USDC]. Circle stated:
“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.”
According to Circle, Hanbitco, an EOS-friendly exchange, and Everbloom, decentralized cryptocurrency exchange for ERC2O tokens are the newest organizations to welcome USDC.
Furthermore, Dispatch Labs, a blockchain accelerator and HACERA, a platform that builds enterprise-grade blockchains have involved themselves in the USDC ecosystem. Both companies aim to build solutions that have several use cases wherein payments and settlements are required.
Digital wallet provider, BitUN and Cobo, a cryptocurrency wallet are allies as well. Both platforms have announced that they have integrated the safe storage of USDC into customers’ wallets with the additional feature of interacting with several other services as well.
Circle has further stated that the new support they are receiving for USDC could potentially result in the formation of “an open standards model “of how fiat currency can be used over the internet. Additionally, this model could allow for momentous innovations in the current global financial structure.
According to Circle, the need of the hour for investors and traders in the exchange ecosystem is a platform that can easily trade, exchange and transact fiat currency. Furthermore, Circle believes that the ecosystem needs to exist in a manner where hedges can be made using volatile digital assets as well as stable assets and values.
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