Coinbase now supports over 100 countries, adding trading between cryptocurrencies to 50 new countries
Coinbase deepens support for crypto-to-crypto trading globally by adding USD Coin (USDC) trading to customers in 85 countries on Coinbase and Coinbase Pro. The crypto company believes this will help to accelerate the global adoption of crypto trading, and with USDC, enables access to a stable store of value.
In its blog post, the company says stablecoins like USDC have a number of advantages over cash: they can be transferred near-instantly and globally, used in a wide variety of dapps, and stored securely and privately in a crypto wallet. Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing. There are more than 300 million USD Coins in circulation today, supported by +100 ecosystem supporters. For these reasons, Coinbase sees USDC as an important step towards a more open financial system.
Stablecoins are beneficial to anyone who trades crypto, but also have the potential to help people in countries where inflation is eroding wealth. For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation.
Today, Coinbase operates in 103 countries across every major continent.
SEE ALSO: Stablecoin: what is it and do we need it