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Stablecoin Backed by Coinbase and Circle Hit $1 Billion Maket Cap

Jean Zheng

Summary: According to the Centre Consortium, USD Coin, a stablecoin project founded by Coinbase and Circle, reached a $1 billion market cap in 21 months. Three major factors accelerated the development of USD Coin: the coronavirus-fueled financial crisis, the increased demand for low-cost transfers among businesses worldwide, and the impact of massive growth in the Compound ...

According to the Centre Consortium, USD Coin, a stablecoin project founded by Coinbase and Circle, reached a $1 billion market cap in 21 months.

Three major factors accelerated the development of USD Coin: the coronavirus-fueled financial crisis, the increased demand for low-cost transfers among businesses worldwide, and the impact of massive growth in the Compound protocol, a major DeFi project.

the Centre Consortium further represented that USD Coin anticipates more growth in 2020.

by Jean Zheng

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Link: Stablecoin Backed by Coinbase and Circle Hit $1 Billion Maket Cap   [Copy]
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