{"id":21126,"date":"2018-10-23T17:14:48","date_gmt":"2018-10-23T17:14:48","guid":{"rendered":"http:\/\/ci027cfe6440082697"},"modified":"2018-10-23T17:14:48","modified_gmt":"2018-10-23T17:14:48","slug":"coinbase-just-added-its-first-stablecoin","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/coinbase-just-added-its-first-stablecoin","title":{"rendered":"Coinbase Just Added Its First Stablecoin"},"content":{"rendered":"
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Coinbase is integrating its first stablecoin, joining other top exchanges in what has become a listing race to add Tether\u2019s rising competitors.<\/p>\n

As detailed in an October 23, 2018, blog post<\/a>, Coinbase has added support for Circle\u2019s USD Coin (USDC)<\/a>. Starting today, U.S. Coinbase users \u2014 with the exception of those in N.Y. state \u2014 can buy and sell the stablecoin through Coinbase.com, the company\u2019s primary platform. All users in \u201csupported jurisdictions\u201d can also send and receive the coin, and the announcement details that trading for other \u201cgeographies will be available in the future. <\/p>\n

Trading on Coinbase Pro, Coinbase\u2019s spot exchange, will commence \u201cin the coming weeks\u201d according to the post. <\/p>\n

USD Coin was first introduced by digital payments company Circle shortly after it purchased the Poloniex exchange.<\/a> The stablecoin, which is fiat-collateralized, was developed by the Centre Blockchain Consortium, an entity that Coinbase co-founded with Circle.<\/p>\n

\u201cThe underlying technology behind the USDC was developed collaboratively between Coinbase and Circle, in our capacity as partners and co-founders of the new CENTRE Consortium<\/a>,\u201d the blog post reads.<\/p>\n

The blog post claims that a \u201cblockchain-based digital dollar\u201d is a more efficient alternative to traditional banking and is \u201can important step toward a more open financial system.\u201d As an ERC-20 token built on the Ethereum standard, the post continues to explain that USDC is compatible with most decentralized applications on Ethereum.<\/p>\n

2018 has seen a steady influx of stablecoin projects<\/a>. As new products flood the market, exchanges like Huobi<\/a> and OKEx<\/a> have been quick to add the most notable of these. In the company of USDC, these other stablecoins (TrueUSD, GeminiUSD and the Paxos Standard<\/a>) are seen as more transparent, regulator-friendly alternatives to tether, whose market dominance has been waning<\/a> in the wake of all the competition. <\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase is integrating its first stablecoin, joining other top exchanges in what has become a listing race to add Tether\u2019s rising competitors.<\/p>\n","protected":false},"author":3468,"featured_media":21127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3084,190,804,2012],"class_list":{"0":"post-21126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-circle","9":"tag-coinbase","10":"tag-stablecoins","11":"tag-usdc"},"author_data":{"id":3468,"name":"Aaron Van Wirdum And Colin Harper","nicename":"aaron-van-wirdum-and-colin-harper","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/88b6c65a7515990786b1c04473e15469e5b0d0fffef947ed629a60854e1cb426?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/coinbase-just-added-its-first-stablecoin.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3468"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=21126"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21127"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=21126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=21126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=21126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}