Major US crypto exchange Coinbase said introducing USDC support in 85 jurisdictions will benefit countries with significant inflation.
United States crypto exchange and wallet assistance revealed on May 14 Coinbase now accepts USD Coin (USDC) from 85 countries. Cryptocurrency exchanges may be incredibly successful, terrifying, and risky companies in a quickly expanding sector with shifting legal frameworks.
Coinbase also announced a huge global expansion, currently serving 50 additional countries, including Brazil, South Africa, and Taiwan. Coinbase serves and helps consumers starting from today in 103 countries in total; the exchange wrote, counting that the action will support rev the multinational adoption of crypto trading.
USDCoin on Coinbase
USD Coin was the first stablecoin on Coinbase in October 2018 for users in specified US states.
Coinbase said it wants to help people in places where inflation is destroying wealth by adding USDC support in 85 nations. The company claims that stablecoins like USDC can help protect against severe inflation in countries like Argentina and Uzbekistan. Where consumer prices expects to rise by 10–20 percent in 2020.
Earlier this week, Reserve, a Coinbase-backed business, announced that it would launch a Venmo-style software for crypto-fiat payments in Venezuela.
According to CoinMarketCap, a stablecoin is digital money pegged 1:1 to a fiat currency or cryptocurrency. Currently, 348 million USDC are in circulation, with a daily trade volume of around $250 million.
On the other hand, Volatility is the phase of variation of a trading price over time. In other words, Volatility demonstrates the amount of hesitation about the size of differences in an asset’s value. The higher an asset’s spread of values signifies the higher Volatility. Volatility is important for investors since it shows the risks and potential rewards of buying an asset.
Cryptocurrency volatility is one of its most bizarre features. As cryptocurrencies have no main authority and, likewise, no regulated emission instrument, they are highly volatile. Cryptocurrency’s lack of embedded value, short-term assets, and institutional funds make it explosive. However, the volatility of Bitcoin attracts many investors and accelerates the industry’s evolution.
