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.
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.
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