- Coinbase notes that acceptance of USDC has lagged behind that in the US.
- Coinbase, together with Circle, is a founding member of USDC.
It seems that USDC, USDT, and BUSD are all maintaining their positions as the top three currencies. The USD currencies USDC, TUSD, and USDP have all been delisted from Binance as of late. The funds were instantly transformed into BUSD, the currency of the exchange, upon deposit.
As a result, USDC’s market share fell, as well, as most USDC trading took place on Binance. However, Coinbase just made a statement that it will be expanding its support for USDC by enabling commission-free trading.
Increasing USDC Adoption
Coinbase notes that acceptance of USDC has lagged behind that in the US. The post discusses that the high costs associated with converting foreign cash into one’s own domestic currency are a major contributor to this problem. Coinbase has stated that it would no longer charge a commission for transactions, which will help increase worldwide usage by lowering this barrier.
Customers may now purchase and sell USDC using any supported fiat currency on Coinbase, without incurring any fees. Coinbase, together with Circle, is a founding member of USDC. In its release, the exchange highlights the increased security and convenience offered by stablecoins like USDC.
USDC’s stability is greater than that of the turbulent crypto market since its value is fixed to the US dollar. Since inflation is a problem for every country in the world, many people are thinking of using stablecoins as an alternative currency. In the same vein, stablecoins have been shown to be a superior means of exchanging money. This is largely due to the improved speed, convenience, and safety of international money transfers.
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