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  • Stablecoins continue to spur discussion in the cryptocurrency industry.
  • Circle confirms availability on 50 crypto platforms including U.S.-based Coinbase.

The cryptocurrency industry is constantly evolving with digital assets taking new forms in order to appeal to the current situation in the market. Among the various forms of new assets in the industry, stablecoins are gaining traction at a fast rate. Stablecoin tend to maintain a stable coin in relation to, for example, the U.S. dollar as opposed to the fluctuation in the prices of other cryptocurrencies like Bitcoin (BTC).

Goldman Sachs backed digital platform, Circle recently released its own issued stablecoin referred to as USD Coin (USDC). The coin that is pegged to the U.S. dollar is said to be available for trading on at least 50 exchange platforms including Coinbase. Among the 50, 12 confirmed their support for USDC on November 1. Some of these platforms include BitMart, Bit-Z, DDEX, FCoin, Gatecoin, Hanbitco, Hotbit, QCP Capital and SWFT Blockchain.

USDC stablecoin has been developed following the ERC-20 token standardization and currently offers investors some sort of refuge to store their funds while avoiding the market’s volatility. USDC is issued and governed by the CENTRE project. At the moment, users are not charged to withdraw the coin in a bid to push for faster adoption.

Stablecoins continue to spur discussions in the crypto market. People have different views of the pegged coins but one thing that cannot be disputed is the fact that they have set a proper mechanism for trading cryptos on exchange platforms.