Cryptonews The exchange claims this is part of a move to boost global adoption, with research showing three times more USDC is bought with dollars than other currencies 💸
It fears that the transaction fees associated with converting pounds, euros and yen into USDC "is a barrier to broader international adoption."
"We firmly believe that USDC and other stablecoins will play an increasingly significant role as the fiat on-ramp to the new Web3 ecosystem. Improving the ease of fiat-to-crypto transactions will pave the way for even more users to access DeFi. By owning USDC, users can interact with innovative new dApps in areas like trading, insurance, saving, lending, and borrowing, where USDC is a trusted means of exchange.
Over the past three months, USDC's market cap has dwindled from $55 billion to $44 billion — but by contrast, Binance USD has grown from $18 billion to almost $22 billion.During a Twitter Spaces over the weekend, BitBoy Crypto claimed that USDC could end up becoming a central bank digital currency by 2026.
Armstrong went on to make the sensational, and unfounded, claim that Coinbase "is in bed with the U.S. government."