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USDC Stablecoin: Now Supported by the SwissBorg Wealth App

June 23, 2020

We are pleased to announce that as of today, USD Coin (USDC) will be supported by our Wealth App.

To expand our reach and our ability to serve all our token holders, we have added the second-largest stablecoin in the world. USDC is a stablecoin which is pegged to the US dollar. It is managed by Circle and Coinbase. USD coin is backed by fully reserved assets, you can redeem 1 USDC for US$1.00.

Because USDC is a fully collateralized, U.S. dollar-based, stablecoin that can serve as a hedge against the volatility of crypto markets, it enables instant liquidity for our crypto holder community. It also helps us expand our reach to more countries because it can be used for quick and seamless movement of assets around the globe.

  • USDC stablecoin has a current market capitalization of more than $733.70 M (18 Jun 2020)
  • USDC is based on Ethereum’s ERC-20 standard, making it interoperable (can be used reciprocally) with most major wallet and custody services.
  • USDC comes from a partnership agreement between Circle and Coinbase teams
  • USDC is the first stablecoin to be minted by member organizations of the CENTRE Consortium, launched in 2018, a membership-based framework and governance scheme for the development and growth of money on the Internet.
  • The U.S. dollar reserves for USDC are authenticated to by the services firm, Grant Thornton LLP

We see the inclusion of the first stablecoin in our Wealth app as another step in our quest to merge the worlds of traditional finance and that of cryptocurrencies.

You can now buy and sell USDC in our Wealth app.

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