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Which stablecoin does Coinbase use?

avatarDhiraj Kumar BarnwalDec 06, 2021 · 3 years ago3 answers

What stablecoin does Coinbase, one of the largest cryptocurrency exchanges, use as a means of providing stability to its users?

Which stablecoin does Coinbase use?
Cryptocurrency
Coinbase
Stablecoin

3 answers

  • avatarDec 06, 2021 · 3 years ago
    Coinbase uses the USDC stablecoin as a means of providing stability to its users. USDC is a popular stablecoin that is pegged to the US dollar, meaning that its value is designed to remain relatively stable compared to other cryptocurrencies. By using USDC, Coinbase aims to offer its users a reliable and secure way to store and transfer value within the cryptocurrency ecosystem.
  • avatarDec 06, 2021 · 3 years ago
    Coinbase, being a reputable cryptocurrency exchange, has chosen to use the USDC stablecoin to ensure stability for its users. USDC is backed by a reserve of US dollars held by regulated financial institutions, providing a level of transparency and trust. This stablecoin allows Coinbase users to easily convert their cryptocurrencies into a stable asset, reducing the volatility risks associated with other digital currencies.
  • avatarDec 06, 2021 · 3 years ago
    Coinbase, like many other exchanges, uses the USDC stablecoin to provide stability to its users. USDC is an ERC-20 token that is issued by Circle and Coinbase. It is audited monthly to ensure that the number of tokens in circulation matches the amount of US dollars held in reserve. By utilizing USDC, Coinbase offers its users a reliable and transparent stablecoin option for their trading and investment needs.

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