Initial USD Coin (USDC) trading pairs on Liquid will include BTC and ETH, and traders will be able to buy and sell USDC to protect their investments at times of price volatility. At the same time, the tokens can be cheaply transferred over the blockchain.
One USDC is a 1:1 representation of a US dollar on the Ethereum blockchain. Each USDC is 100% collateralised by a corresponding US dollar held in accounts subject to regular public reporting of reserves.
Circle is a money services business registered with FinCEN, which holds 48 US state money transmitter licenses. The company was the first recipient of the BitLicense issued by the New York States Department of Financial Services (NYDFS), and it is working with NYDFS to bring USDC to customers in a regulated way.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.