Circle and Coinbase launch their first USDC stablecoin and cryptocurrency consortium

A recent statement reveals the launch of the Circle and Coinbase stablecoin, better known as USDC or USD // Coin, which will be available in the exchange.

Likewise, both companies announced the creation of the consortium 'Center Consortium', which will serve as a center for internal decisions on "standards regarding fiat, as well as on legislative frameworks, governance, global networks and the adoption of stablecoins backed by fiat ", this according to the official sources of the launch.

With the recent launch, users at the international level will now be able to acquire their USDC through the Coinbase exchange or through the Coinbase mobile application or digital wallet.

According to the CTO (chief technology officer) of Coinbase, Balaji Srinivasan, this development, like that of the other stablecoins, can be compared with the launch of the iPhones in early 2007:

¨The stablecoins could be to the economy, what iPhones went to technology in 2007, that is, an innovation that transformed the system into a more programmable and more efficient one.¨

As for the Center consortium, Circle founders Jeremy Allaire and Sean Neville commented that:

¨The intention of the consortium is to carry out the common vision of the partners of an open global financial system based on networks and block chain infrastructure. The promise of stablecoins is to integrate the existing financial world into the cryptoactive industry and allow global interoperable payments for everyone on the planet [...] and unlock the incredible power of smart contracts to tokenize a wide range of assets and economic deals.¨

Circle has been quite moved during the previous months of this year and has become an avid competitor, with support from large firms and corporations, such as Goldman Sachs, Bitmain and Baidu, as well as being valued at approximately $ 3 billion.