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Circle (legally Circle Internet Financial Limited) is a peer-to-peer payments technology company that now manages the stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts.
Their value is pegged to one or more currencies (most commonly the US dollar, the euro, and the Swiss franc) in a fixed ratio; The value connection is realized off- chain through banks or other types of regulated financial institutions which serve as depositaries of the currency used to back the stablecoin;
The move will position Ripple against sector leaders Tether (USDT) and Circle (USDC), which together dominate 90% of the stablecoin market. For instance, among the top 10 stablecoins by market ...
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system.
USD Coin, according to the stablecoin's governing company, Circle, soon will be available on six additional blockchains: Base, Cosmos via the Noble network, NEAR, Optimism, Polkadot, and Polygon PoS.
The crypto firm first announced its plans to launch a U.S. dollar-pegged cryptocurrency called Ripple USD (RLUSD) in April. The token will be backed by short-term U.S. Treasuries, dollar deposits ...
Tether (often referred to by its currency codes, USD₮ and USDT, among others) is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014. [3] [4]As of August 1, 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves.
Last week, White House crypto czar David Sacks held his first press conference to discuss the future of crypto policy coming out of the Trump administration.