Stablecoins

USDC now supported by nearly 100 companies; exceeds $300 million in market cap

January 9, 2019, 12:43PM EDT

USD Coin stablecoin (USDC) has earned the support of six new companies and surpassed $300 million in market cap, CircleBlog reports. Co-founded by Circle and Coinbase back in September, the US dollar-backed token is now supported by nearly 100 companies—as of this week, the club includes security audit provider Zeppelin, cryptocurrency trading platforms Kaiserex and Raisex, as well as three mobile wallet companies: Coinomi, Citowise, and Exodus.

Introduced in an effort to “establish a standard for fiat on the internet,” USDC is now the second-largest stablecoin by market cap and a top 25 crypto asset. “It’s listed on dozens of crypto exchanges across the globe, including as a quote currency for some of the most actively traded assets,” CircleBlog adds.

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