US customers outside the state of New York can now buy, sell, send and receive the USD//Coin (USDC) through the companys iOS and Android apps, as well as coinbase.com. USDC is the first stablecoin supported by Coinbase, and is only the second ERC-20 token the exchanges customers can trade after it added the 0x token earlier in October 2018.
Each token is backed by US dollar holding at a 1:1 ratio, meaning it is 100 % collateralized. Coinbase Wallet already supports the USDC token, and Coinbase Pro will begin supporting the token βin the coming weeks,β according to a blogpost posted by the cryptocurrency exchange.
In a separate post, Circle co-founders Jeremy Allaire and Sean Neville outlined the CENTRE Consortium, which was launched with Coinbase on 23 October. CENTRE, first announced last year, was a Circle initiative focused on building a payments network. The new consortium builds on that, according to CoinDesk.
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