USDC Stablecoin to be launched next month along with security updates -Coinbase

Recently, cryptocurrency exchange Coinbase has announced that it will now include buying and selling of the USDC stablecoin. USDC is set at a 1:1 value with the US dollar and is one of the many new stablecoins who is trying to take hold on the market in recent weeks. Also, Coinbase Pro added some new security features like Address Book and  Address Whitelisting.

Before this Coinbase didn’t have any support for a stablecoin, which is quite different from other cryptocurrencies. Coinbase states in its blog there is an advantage of a blockchain-based digital dollar like USDC, it is easier to program with, to send quickly, to use in dApps, and to store locally than traditional bank account-based dollars.

Stablecoins like USDC make transactions easier between accounts, it also helps protect investors against market volatility. It is an ERC-20 token, USDC is usable in the Ethereum dApp ecosystem and acts as a programmable dollar for developers on the Ethereum blockchain.

The crypto finance company Circle created the USDC, who are official partners of Coinbase called CENTRE Consortium. The launch was made possible by the collaboration between Coinbase and Circle, as co-founders of the new CENTRE Consortium. Both the companies work on the ideology of compliance-first approach and a track record of security. That’s why CENTRE is uniquely positioned to offer USDC.

Coinbase states in their blog that USDC will be available on Coinbase Pro within the next month and the token is already supported on the Coinbase Wallet.

Coinbase Pro users received more good news through the new update which was making crypto transfers easier and more secure by introducing a crypto wallet “Address Book” and introducing the option to “restrict crypto transfers to addresses in your Address Book.”

The new feature “Address Book” allows users to store as many number of wallet addresses as they want, which can now send crypto to addresses “you know and trust”, and also eliminates the need for users “to do a manual address lookup, copy, and paste each time they want to withdraw crypto.” and also new address can be saved to the Address Book after “withdrawing crypto to a previously unsaved address.”

 The Address Book also added an optional feature called “Address Whitelisting” that when enabled restricts transfers from a Coinbase Pro account to only those addresses already saved in the Address Book, this feature also helps to add a 48-hour delay to adding new addresses to your Address Book and disabling the Whitelisting feature.

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