will be available on Circle’s Poloniex exchange and Circle Trade. USDC will soon be available on other partner exchanges including DigiFinex, CoinEx, KuCoin, and OKCoin. Wallets BitGo, Cobo, Coinbase Wallet, and imToken are also among the more than 30 partners that have announced support for USDC.
The Circle’s platform allow individuals and institutions convert UD dollars into USDC tokens. Then be moved over public blockchains. The equivalent US dollars then held in reserve by Circle’s banking partners. USDC tokens are compliant with the ERC-20 standard and can be cashed back out to bank accounts. While tokenizing dollars is free, Circle will charge 0.1% to redeem USDC tokens for dollars.
USDC is the first fiat token released by the Centre open source consortium, with Circle the first of several members set to launch USDC issuance.
Explaining the benefit of the stablecoin, Circle says that “price-stable tokens are foundational requirements for enabling powerful new global financial contracts, products, and services on the internet”.