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Whether you’ve been working with cryptocurrencies recently or for some time, you might not be familiar with the concept of “stablecoins”. An asset that is linked to another currency, commodity, or financial instrument is referred to as a “stablecoin”.
USD Coin (USDC) is a “stablecoin” cryptocurrency, which is linked to the US dollar, and one USD Coin can be redeemed for $1.00, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold.
Disclaimer: Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service.
Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Please seek advice from an independent and suitable licensed financial advisor before purchasing. Capital gains tax may be applicable to profits from cryptocurrency sales.
Coinbase’s mission to “increase economic freedom” includes creating more on-ramps for users to access USDC and assisting it in becoming a widely trusted and reputable digital currency.
Currently, a significant portion of USDC is purchased with US dollars rather than non-US dollar currencies. This is due, in part, to the fact that, outside of the US, users typically have to pay fees when converting their local currency into USDC, which is a barrier to wider international adoption.
However, Coinbase believes that waiving commission fees for all users is the best way to accelerate USDC adoption globally.
Stability
USDC is a stablecoin pegged to the US dollar that is backed by high-quality reserves and has transparent and regular attestations, which means it is always redeemable for US dollars at a 1:1 ratio.
While the value of many cryptocurrencies can fluctuate dramatically, a stablecoin such as USDC aims to provide users with the stability and confidence they require during periods of high volatility.
Transparency
The USDC is backed by dollar-denominated assets that are maintained in segregated accounts with US-regulated financial institutions, have transparent, routine attestations of assets, and have at least equal fair value to the USDC in circulation. Plus, there’s currently no commission fees involved to get started**.
Accessibility
In order to transmit value anywhere in the world*, USDC strives to be a safe, affordable, and quick solution.
USDC transfers can now be performed in under an hour as opposed to many days for older banking systems thanks to blockchain technology.
Additionally, consumers can stay away from the middleman fees linked to conventional banking networks.
Coinbase aims to build the crypto economy to be a more fair, accessible, efficient and transparent financial system enabled by crypto.
The company started in 2012 with the idea that anyone, anywhere, should be able to easily and securely send and receive crypto like Bitcoin.
Today, it offers an easy-to-use platform for accessing the broader crypto economy. 
Visit coinbase.com for more information on USDC. You can also log into Coinbase.com, Coinbase Prime, or Coinbase Exchange – or if you are an institutional client, you can also review their USDC overview documentation for Coinbase Prime and Coinbase Exchange.
This article was paid for by Coinbase – registered company number 3728966, based in the USA. To find out more about Coinbase, visit the website.
*Upon purchase of USDC, you will be automatically opted into rewards. If you’d like to opt-out or learn more about rewards, click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
**This feature may not be available to all regions. No commission fees attributed to Coinbase will be charged until further notice. However, spread, and processing fees charged by third-party processors, will continue to apply.
Disclaimer: Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service.
Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Please seek advice from an independent and suitable licensed financial advisor before purchasing. Capital gains tax may be applicable to profits from cryptocurrency sales.
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