The company believes that stablebcoins can provide an opportunity for Uzbek clients to protect themselves from inflation.
This Tuesday, the American crypto-exchange Coinbase announced the launch of trading on the basis of the USD Coin (USDC) issued with its participation of steylcoin in 50 new countries. This is stated in the company’s blog, drew attention to ttrcoin.com.
The company now provides its services in 103 countries whose residents have access to its Coinbase retail service and Coinbase Pro professional trading platform. 85 of them have access to USDC markets.
The new supported jurisdictions included four CIS countries – Armenia, Kazakhstan, Kyrgyzstan and Uzbekistan.
The company expects that the USDC, being less volatile than conventional cryptocurrencies, will serve as a tool to attract new investors to this market.
“Our new customers in countries such as Argentina and Uzbekistan, where consumer prices are expected to increase by 10–20% in 2020, such as USDC steaklokoiny can provide an opportunity to protect themselves from inflation,” the statement said.
Today’s announcement is an important achievement for Coinbase and the distribution of cryptocurrency in general. A year ago, Coinbase was available to residents of only 32 countries.
According to Coinbase, now there are over 300 million USDC in circulation, which allows this token to be available to traders from all supported countries.
Whether the USDC trade will be available in other CIS countries is not reported yet. However, the company noted that work on expanding opportunities for fiat currency investment continues.