The acquisition is seen as a way for Coinbase to strengthen its ties to the stablecoin market. The deal is reportedly worth $400 million and will give Coinbase a seat on Circle's board of directors. In August, 2023, Coinbase announced that it had acquired a minority stake in Circle, the company that issues the USDC stablecoin. The coin provides users with a number of use cases, such as portfolio balancing, hedging against volatility, pricing in fiat currency, fast international remittances, peer-to-peer (P2P) payments, and payment interoperability across different blockchains. The $43 billion dollar plus market cap has seen to it that USD Coin has remained a top five crypto for some time now. USDC is the number two stablecoin, but it is also the fifth largest market capitalization in the cryptocurrency market at the time of writing. The USDC stablecoin is the second largest stablecoin ecosystem, behind only USD Tether ( USDT ), and just above Binance USD ( BUSD ). ![]() USDC is compatible with a number of different blockchains, including Ethereum, Algorand, Solana, Stellar, and TRON. These reserves are overseen by the accounting firm Grant Thornton, which publishes monthly attestation reports. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.USD Coin (USDC) is a stablecoin pegged to the US dollar at a 1:1 ratio and is designed to remain stable regardless of cryptocurrency market conditions.Īs a fully backed stablecoin, it holds US dollar asset reserves in regulated US financial institutions. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. Risk Disclaimers This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. ![]() Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only.
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