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Goldman Sachs-backed Circle’s USD Coin [USDC] receives support from 6 new companies

Shahrain KM

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Goldman Sachs-backed Circle's USD Coin [USDC] receives support from 6 new companies
Source: Unsplash

Recently, Goldman Sachs-backed blockchain firm, Circle stated that 6 new organizations have joined the bandwagon in supporting the platform’s newly launched stablecoin, USD Coin [USDC]. Circle stated:

“USDC was launched by the CENTRE open source consortium last week and Circle was the first commercial issuer. Individuals and institutions can enroll in this service to deposit US dollars from bank accounts, convert those dollars into tokens usable everywhere the internet reaches.”

According to Circle, Hanbitco, an EOS-friendly exchange, and Everbloom, decentralized cryptocurrency exchange for ERC2O tokens are the newest organizations to welcome USDC.

Furthermore, Dispatch Labs, a blockchain accelerator and HACERA, a platform that builds enterprise-grade blockchains have involved themselves in the USDC ecosystem. Both companies aim to build solutions that have several use cases wherein payments and settlements are required.

Digital wallet provider, BitUN and Cobo, a cryptocurrency wallet are allies as well.  Both platforms have announced that they have integrated the safe storage of USDC into customers’ wallets with the additional feature of interacting with several other services as well.

Circle has further stated that the new support they are receiving for USDC could potentially result in the formation of “an open standards model “of how fiat currency can be used over the internet. Additionally, this model could allow for momentous innovations in the current global financial structure.

According to Circle, the need of the hour for investors and traders in the exchange ecosystem is a platform that can easily trade, exchange and transact fiat currency. Furthermore, Circle believes that the ecosystem needs to exist in a manner where hedges can be made using volatile digital assets as well as stable assets and values.





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Shahrain KM is a writer at AMB Crypto. Her curiosity in Blockchain technology and Cryptocurrencies has led her to be a part of the news reporting team of AMB Crypto. She does not hold value in any cryptocurrencies currently.

Altcoins

Binance coin pumps by over 6% in an hour; breaks its all-time high

Namrata Shukla

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Source: Pixabay

On June 20, Binance coin [BNB], a coin ranked seventh on CoinMarketCap, surged by a massive 6.38% over the past hour. The coin also broke its all-time high and was trading at $36.47, at press time.

Source: Trading view

Source: Trading view

At press time, BNB was being traded at $36.47 with a market cap of $5.097 billion. The 24-hour trading volume of the coin was reported to be $571.64 million, as it spiked by 2.35% over the day. Over the past seven days, the coin noted a rise of 2.03% in its price and continued to rise by 6.38% within the hour.

This hike follows Singapore-based cryptocurrency exchange, KuCoin, listing Binance coin [BNB] and Binance announcing the launch of Elrond project on Binance launchpad. Binance funded the sharding-based public blockchain network in a private funding round, as the company closed the round with $1.9 million. It will be the next project supported by Binance launchpad and the token sale will be carried out in a lottery fashion. The token sale is scheduled to begin from June 22, 00:00 AM [UTC].

The coin was highly traded on Binance exchange with BNB/USDT pair and BNB/BTC pair. BNB/USDT took the first place as it noted a 24-hour trading volume of $137 million, followed by BNB/BTC which reported a volume of $126 million. The third position was taken by LBank exchange, which registered a trading volume of $120 million with BNB/USDT pair.





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