Company
Date Published
Author
Team Circle
Word count
334
Language
English
Hacker News points
None

Summary

Circle Internet Financial announced the integration of its stablecoin, USD Coin (USDC), into the Poloniex crypto asset trading platform, marking an effort to establish Poloniex as a leading destination for crypto trading. USDC is a fully collateralized US dollar stablecoin that facilitates a seamless conversion between dollars and crypto assets, leveraging Circle's USDC issuance service for both individual and institutional investors. The stablecoin operates on the ERC-20 standard, ensuring transparency and compliance with US money transmission laws, and is backed by notable banking partners and auditors. As the first fiat stablecoin developed by CENTRE, USDC is part of an open-source project with Circle being the pioneer member to launch USDC issuance, with deposits and withdrawals already active and trading in BTC/USDC, ETH/USDC, and USDT/USDC pairs commencing on September 27, 2018. Circle's broader mission is to revolutionize money movement by enhancing accessibility, inclusivity, and efficiency, thereby fostering global economic opportunity and prosperity.