Coinbase made the announcement on its website, touching on the service as fast and convenient:
“You can now send money to any user with a Coinbase account around the world using XRP or USDC.”
“By using cryptocurrencies that are optimized for cross-border transmission, you can send and receive money virtually instantly by sending those cryptocurrencies and having the recipient convert them into local currency.”
“There’s zero fee for sending to other Coinbase users, and a nominal on-chain network fee for sending outside of Coinbase.”
CIRCLE LAUNCHED USDC IN SEPTEMBER 2018
Crypto unicorn Circle launched the stablecoin USDCoin (USDC) in September 2018.
As Curated Cryptocurrency News previously reported, USDC is pegged to the U.S. dollar and enables individuals and institutions to tokenize physical currency for use in overseas trading and other cross-border transactions that require rapid settlement.
Unlike other USD-backed stablecoins, Circle is not USDCoin’s sole issuer. Instead, the token is designed to have multiple issuers as more organizations join Centre, an open-source consortium that develops a decentralized network of fiat stablecoins.