Circle, which owns the Poloniex exchange, announced the launch of a tokenized USD Coin (USDC). Soon USDC will appear on a number of crypto exchanges, including decentralized sites, and will also be supported by many other projects.
Circle said that the USDC was developed with the help of the CENTRE consortium and is intended to become a way of easy transfer of tokenized dollars in public blockchains.
Individuals and organizations can use this service for deposits in US dollars from bank accounts and convert them into USDC. Also, these tokens can be withdrawn back to bank accounts.
Initially USDC will be available at Poloniex, after which they will also be added to DigiFinex, CoinEx, KuCoin, OKCoin, Coinplug, XDAEX and other trading platforms.
Also, the company pays attention to the importance of trading protocols, as the exchange of currencies, goods or assets in a non-credible way is what many projects will soon want to get by default.
In this connection, Circle highlights several examples of using USD // Coin at the protocol level. For example, the Kyber Network, decentralized trading platforms DEX, Paradex, Radar Relay and Tokenlon, as well as the Dharma platform, where the support for USDC will soon appear.
Stablecoins, especially ones that provide fiat rails, are a critical piece of infrastructure in the decentralized ecosystem. We're excited by Circle and CENTRE’s efforts to create a transparent, fiat-backed project that provides a bridge between traditional finance and the open financial system of the future.
General Manager, Paradex
Future partners of USD Coin are :
- Origin Protocol
In addition, CENTRE declares its intention to make every effort to ensure the security of the use of the USDC and partnership with the blockchain-oriented, AML-compliant and risk-based companies, including Chainalysis, Elliptic, Coinfirm and Coral.
Additionally, it is stated that such wallet providers as BitGo, Cobo, Coinbase Wallet, CoolWallet S, Elph, imToken, Ledger, Status and Trust will provide native USDC support.
Circle announced the release of its own stablecoin in May after the close of the E-series financing round for $ 110 million.