and service has expanded USD Coin () to in 85 countries, the firm announced in a on May 14.
Along with the USDC announcement, also announced a major global expansion, adding 50 more jurisdictions to its coverage, including such countries as , and , among others.
Starting from today, serves in 103 countries in total, the exchange wrote, adding that the move will help accelerate the global of .
USD Coin is the listed for on platform: the exchange first listed USDC back in October 2018 for in selected jurisdictions in the U.S..
By adding USDC coverage in 85 global jurisdictions, aims to “improve the lives of people in countries where inflation is eroding wealth,” according to the blog post. The company stated that like USDC could provide an opportunity to protect against high inflation in newly added countries like and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020.
Earlier this week, a startup backed by , Reserve, announced that it would soon be a Venmo-style app in Venezuela for crypto-fiat payments, specifically targeting the country in order to help citizens get around the rising inflation.
A stablecoin is a designed to have minimal price due to its 1:1 peg to a certain currency or holding. At press time, there are 348 million USDC circulating with a daily volume of around $250 million, according to data from .
Published at Tue, 14 May 2019 16:07:54 +0000
