USD Coin (USDC), already available on dozens of exchanges around the globe, in recent days was listed on Europe-based crypto exchange BitBay and token swapping platforms Kyber Network and Uniswap.
These companies join the nearly 100 exchanges, protocols, platforms, applications, wallets and service providers that are part of the USDC ecosystem. Since it was launched in the fall of 2018, USDC has been growing rapidly and is the second largest stablecoin by market cap.
Each company in the USDC ecosystem plays an integral role in driving adoption:
- BitBay is one of the largest exchanges in Europe with more than 800,000 users.
- Kyber Network enables decentralized token swaps across a range of assets. It is increasingly popular as a protocol used to embed seamless token swapping capabilities across wallets and apps.
- Uniswap is a unique decentralized platform for token exchange that has seen tremendous growth in the last number of weeks.
We look forward to continuing to see the number of companies supporting USDC grow in the months ahead.
USDC was introduced by the CENTRE Consortium, a joint venture co-founded by Circle and Coinbase, to establish a standard for fiat on the internet and provides a governance framework and network for the global, mainstream adoption of asset-backed stablecoins.
You can learn more about USDC here, and tokenize or redeem USDC with both Circle and Coinbase. You can go here to read the monthly reports on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP.