The co-founders of Coinbase are Brian Armstrong and Fred Ehrsam. Armstrong is the CEO of Coinbase and has been involved in the cryptocurrency space since 2012. Ehrsam is a former Goldman Sachs trader who joined Armstrong in founding Coinbase in 2012. He left Coinbase in 2017 to pursue other ventures in the crypto industry.
The co-founders of Circle are Jeremy Allaire and Sean Neville. Allaire is the CEO of Circle and has been a prominent figure in the internet and technology sector since the 1990s. He co-founded Brightcove, an online video platform, and Allaire Corporation, a web development software company. Neville is the president of Circle and has been working with Allaire since 2003. He has extensive experience in software engineering and product development.
Why is USD Coin Important?
USD Coin is important because it offers several benefits for users who want to access the global digital economy using a stable and transparent currency. Some of these benefits are:
- Low price volatility: Unlike other cryptocurrencies that can experience significant price fluctuations due to market forces or speculation, USDC maintains a stable value that mirrors the U.S. dollar. This reduces the risk of losing money due to price changes and makes USDC suitable for everyday transactions.
- Fully backed by U.S.-regulated reserve assets: Users can trust that their USDC holdings are backed by real U.S. dollars or dollar-denominated assets that are held in segregated accounts with reputable financial institutions. These accounts are audited regularly by an independent accounting firm to ensure compliance and transparency.
- Fast, secure and low-cost global payments: Users can send and receive USDC across borders and platforms with minimal fees and delays. USDC leverages the power of blockchain technology to enable peer-to-peer transactions that are immutable, verifiable and censorship-resistant.
- Interoperability with multiple blockchains and dApps: Users can use USDC with various blockchains and dApps that support the ERC-20 standard or other compatible standards. This opens up a world of possibilities for using USDC in various use cases, such as decentralized finance (DeFi), gaming, e-commerce, remittances and more.
What Makes USD Coin Unique?
USD Coin is unique because it is one of the most widely used and trusted stablecoins in the crypto space. USDC has a large and growing user base, with over $32 billion in circulation as of December 2021. USDC is also supported by over 700 platforms and services, including major exchanges, wallets, payment providers and dApps.
