Circle’s USD-backed stablecoin USDC has been added to Coinbase and will allow Coinbase users to receive, purchase,sell and transfer the stablecoin. This is a big deal for Circle as stablecoins are in high demand ever since Tether became a much more unsure thing about a week or two ago with the collapse of Noble Bank of Puerto Rico. Being on Coinbase gives it access to large parts of the US market and may give it the upper hand when competing against competitors like TrueUSD and PAXOS standard. For Coinbase, this could be of great institutional use because the USD wallet on Coinbase are only insured up to $250,000, which is fine for most retail investors, but may be not enough for large institutional investors and having a fully backed stablecoin could be something that is really in demand.
