RATE Group | Bitcoin Unicorn Circle Launches USD-Pegged Cryptocurrency
43620
post-template-default,single,single-post,postid-43620,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Unicorn Circle Launches USD-Pegged Cryptocurrency

26 Sep Bitcoin Unicorn Circle Launches USD-Pegged Cryptocurrency

Posted at 15:16h in Cryptocurrency News by

[ad_1]


USDCoin stablecoin cryptocurrency

Circle, the $3 billion bitcoin startup backed by investment banking giant Goldman Sachs, has created a cryptocurrency “stablecoin” whose value is pegged to the U.S. dollar and backed by physical currency stored in company-owned bank accounts.

Circle Unveils USD-Backed Cryptocurrency

Announced on Tuesday, the new cryptocurrency — USD Coin (USDC) — will allow individuals and institutions to tokenize physical currency for use in overseas trading and other cross-border transactions that require rapid settlement.

Commenting on the announcement, Jeremy Allaire and Sean Neville, co-founders of Circle, said:

“When we founded Circle five years ago, we and many in the crypto community envisioned fiat money and financial contracts executing on top of distributed public network infrastructure, building on open standards that would allow us all to share value as instantly and easily as we can access content in web browsers and exchange messages in email and messaging apps. Just…

[ad_2]

Source link

Tags:
, , , , ,