Circle Publishes Monthly USDC Audit for the Second Time

Goldman Sachs-funded startup Circle has recently published a third-party audit report of its dollar-pegged Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term USDC. Chicago-based firm Grant Thornton LLP, one of the largest accounting firms in the United States, was involved in the process.

The report, which details USDC reserves until November 30, 2018, is the second consecutive report published by the firm. This move was taken amid the interest of major exchanges in listing the coin.

The report clarifies that as of November 30, only 177,190,279 coins were issued or outstanding with the firm, while Circle holds $180,192,792 in its custody accounts. The figure for the total USDC supply went to 215,193,466 at the time of publishing this article, as seen on CoinMarketCap.com

This adds a lot of legitimacy to the coin, especially after the controversy of the market-leading stable coin USDT.

After its launch in October this year, USDC gained massive popularity mainly because of the reputation of the issuing firm and its promoters. Although the coin holds a mere around 0.16 percent of the market’s daily volume, compared to Tether’s 26 percent, USDC is now trading on more than 50 exchanges, including market leaders like Binance, Bitfinex, and Coinbase. Moreover, Coinbase, one of the promoters of USDC, took the listing a step further and launched a 12-day campaign to promote its stable coin offering by publishing new features and services every day.

User-Friendly Coin

Circle’s stable coin follows Ethereum’s ERC-20 protocol, which means traders can store the coin on any Ethereum-compatible wallet platform.

Although the crypto trading market has been facing a set back in recent months, far-sighted crypto startups are going bullish on dollar-pegged stable coins. In October, along with USDC, Winklevoss twins-backed crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term Gemini also launched a stable coin called Gemini Dollar.