Circle Announce New USD-Backed Cryptocurrency
Yesterday, FinTech startup Circle announced it will be launching a new price-stable cryptocurrency called "USDC" (short for "USD Coin") this summer. The Circle USD Coin will allow customers to buy and use USDC tokens for payments and trading in the crypto ecosystem while avoiding the cryptocurrencies price volatility. This new stable coin is based on an open source fiat framework developed and governed by the CENTRE project.
"Today we announced the pending availability of tokenized US dollar coins supported by developments in the CENTRE open source framework and by a new partnership with Bitmain, which is also leading a $110M Series E equity investment in Circle."
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