Cryptocurrency

Spotlight on USDC Ecosystem Continues; Kyber, Uniswap, and BitBay Extend Support to USD Coin

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Ever since its market launch in October last year, the stablecoin USDC has showcased significant progress by being listed on some of the leading crypto trading exchanges from around the world. Now it is learned that the digital asset has successfully added another feather in its growth stride.

As per the recent reports, USDC has been included on the platforms of Kyber Network, Uniswap, as well as BitBay. While BitBay is a Europe-based exchange platform, Uniswap and Kyber Network are platforms which allow token swapping.

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USD Coin has shown consistent growth curve right from the beginning of its run. It was formed by the CENTRE Consortium which is a partnership endeavor between Circle and Coinbase. The primary objective of the venture is to fuel wide acceptance of the stablecoins.

USDC’s decision of forming solid partnerships with established corporations, right from the trade exchange platforms, cryptocurrency wallets and blockchain-powered protocols to dApps has turned out to be fruitful so far. These associations have not just contributed to boosting USDC’s popularity but have also improved its market cap standings. In fact, if we look at the present scenario, the USDC stablecoin has proudly earned the reputation of being called the 2nd biggest stablecoin in terms of the market capitalization value.

In the USDC stablecoin ecosystem, all the member companies play a prominent role when it comes to stablecoin’s mass adoption. Kyber Network, Uniswap, and BitBay are also expected to be such strong contributors driving the wide acceptance of the stablecoin with their distinct market position:

  • BitBay is one of the foremost digital currency exchange platforms established in Europe. As it has close to one million users, the market scope for USDC is huge.
  • Kyber Network facilitates swapping of decentralized tokens where users can exchange their tokens for a variety of crypto assets. The platform is extensively utilized by leading cryptocurrency wallets and applications as a method of tokenizing digital assets for seamless swapping.
  • Uniswap, also an exchange platform for decentralized tokens, has been witnessing steady progress in the recent past.

As per the USDC team, crypto enthusiasts around the world can expect increasing inclusions in the USD Coin ecosystem in the days ahead.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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