USDC holders can earn up to 8% p.a.
HONG KONG, June 19, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed the USD Coin (USDC). USDC is now fully supported by Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits.
USDC is an open-source asset-based stablecoin framework developed by CENTRE, an open source project from Circle and Coinbase, which provides a fully collateralized U.S. dollar stablecoin. It is the bridge between dollars and trading on cryptocurrency exchanges. USDC has detailed financial and operational transparency, operates within the regulated framework of U.S. money transmission laws, and has established banking partners and auditors.
Kris Marszalek, Co-Founder and CEO of Crypto.com said: "Stablecoins are crucial in driving global cryptocurrency adoption and we're pleased to welcome USDC to the Crypto.com platform. USDC is also added to Crypto Earn today, allowing users to Earn 8% p.a. on their deposits."
Note: For users in Singapore, USDC is currently not available for deposit into Crypto Earn.
About USD Coin
USDC is a fully collateralized US dollar stablecoin. It is an ERC-20, smart contract-based project developed by CENTRE, an open source project from Circle and Coinbase. The technology behind CENTRE makes it possible to exchange value between people, businesses, and financial institution just like emails and texts. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio. For more information, please visit: www.centre.io/usdc.
Crypto.com was founded in 2016 to accelerate the world's transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com.