Circle to Launch USD Stablecoin

Owner of Poloniex exchange told that the USDC was developed with the help of the CENTRE consortium
27 September 2018   203

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 Also, these tokens can be withdrawn back to bank accounts.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.

Ron Bernstein
General Manager, Paradex

Future partners of USD Coin are :

  • Origin Protocol
  • BlockFi
  • MoneyToken
  • BitPay
  • FOTA
  • Melonport
  • Centrifuge

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.

Poloniex to Delist 8 Coins

The exact reasons for the decision are not indicated, however, all these assets, except BitcoinDark, do not even enter the first 100 of the CoinMarketCap rating
19 September 2018   232

On September 25, the Poloniex Exchange will issue a delisting of eight assets: BitcoinDark (BTCD), Bitmark (BTM), Einsteinium (EMC2), GridCoin (GRC), NeosCoin (NEOS), PotCoin (POT), VeriCoin (VRC), Bitcoin Plus (XBC) .

The exact reasons for the decision are not indicated. However, all these assets, except BitcoinDark, do not even enter the first hundred of the CoinMarketCap rating. This indicates the extremely low liquidity of coins and, accordingly, of insignificant popularity in the market, which could serve as the reason for delisting.

Concerning BitcoinDark, it is noted in the the FAQ that the coin actually remained without the support of the creators. Holders of BTCD got the right to exchange coins for Komodo until mid-January 2018. However, at the moment there are still almost 1.3 million BTCD in turnover.

Also, the administration of Poloniex reminded users about the need to close all positions on the relevant coins until September 25.

After the date of delisting, traders will have 30 more days to withdraw coins to third-party wallet.