USD Coin, one of the major stablecoins by market capitalisation, is now available on the Italian exchange CoinBar.
USD Coin is an ERC20 token that runs on the Ethereum network. It was designed by Centre, a project supported by funding from Circle and Coinbase. The Centre consortium collectively holds 1 USD for each individual USDC.
Why the introduction of a stablecoin?
Stablecoins are digital currencies anchored to an asset, such as commodities or other legal currencies (fiat). They have a fixed value in relation to the underlying asset and are therefore hardly ever subject to price fluctuations.
This feature makes them useful for those who want to stabilise their funds during trading activities.
The introduction of USDC on CoinBar arrives just one month after Litecoin (LTC) was listed on the platform. Thanks to the continuous integration of new cryptocurrencies, CoinBar users have the opportunity to expand their portfolios and trading activities.
Born in collaboration with some of the most renowned companies in the industry, CoinBar is a cryptocurrency exchange that was created in 2018 and has two special features: regulation in accordance with current standards and a network of physical locations, called “CoinBars”, designed to become support points for the platform and meeting places dedicated to enthusiasts and the curious.