Goldman Sachs backed crypto start up Circle Invest to create Stable USDC Token.
Circle invest a Boston-based fintech company raises $110 million investment from Goldman Sachs ,Bitmain and several other companies to create a new cryptocurrency pegged to the price of the U.S. dollar, enabling businesses and consumers to transfer value more efficiently. Each token, called Circle USD Coin (USDC), will be backed by reserves of U.S. dollars, Circle said. The effort is set to begin this summer.
Why do you guys kept supporting USDC? They are not even on my list of the best project in crypto. I also find it funny when I am seeing reviews about them for being good and the best! You call this the best? They don't have a high security and don't even have the guts to make a new development!
simply because the project is good and gonna be great in time. In fact, it will force the price of the entire market up, because it's gonna be easier to pump everything.
Are you spreading FUDs? Or Are you frustrated investor in this project? because based on your comment you lost a lot of money, but the first thing that you need is, Don't lost hope or don't afraid to try again and believe in yourself that you can recover. Smile! :)
Well Everyone has their own opinion and understanding about USDC. Fiat collateralized stable coins like USDC are the easiest type of stable coin to implement, as they function much like an IOU. Every token is paired with an equal amount of fiat currency, which is held by a central custodian. Holders are then able to redeem their coins for the stable value denominated in fiat. Stable coins aim to carry both the relative price stability of fiat currencies, and keep the core values of cryptocurrencies such as decentralization and security. For truly decentralized stable coins to work, there must also be a system in place that can reliably obtain the exchange rate between the stable coin and the pegged asset, without leaning on third-party institutions that can be manipulated.