centreThe development and application of stable coins linked to fiat currencies
Description
Circle, a blockchain one-stop shop for financial services, has launched USD Coin passwords based on the open source architecture CENTRE, developed in partnership with Bitmain and pegged to the US dollar, to facilitate the use of blockchain technology in payments and financial transactions based on smart protocol platforms, such as pass-through securities, lending and asset trading.
USD Coin has emerged to provide users with a solution to purchase and use pass-through legal tender for payments and virtual currency transactions. Developed on CENTRE and regulated by a series of CENTRE network policies, it ensures the independence of monitoring and the quality of Circle's services. Most importantly, USDC is a Full Reserve model, i.e. it corresponds to the amount of USD in custody, is not over-issued and can guarantee USD withdrawals.
The USDC emphasises trading compliance and allows eligible financial institutions to participate in transactions, fully within the US legal system and subject to the CENTRE Network regulations, successfully creating a closed ecosystem and asset technology that further enhances transparency.
Legal CompliancePaymentsStablecoins