Are we drowning in stablecoins yet? Coinbase, in conjunction with Circle Pay, has launched its own digital currency called "USDC" that pegged to the US Dollar that is fully audited and 100% collaterally backed.
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Coinbase and Circle launch USDC stablecoin with purported full backing in US Dollars
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A stablecoin is a digital currency tied to another stable currency like the U.S. dollar, and is designed to minimize price volatility. The value of a stablecoin is based on the value of the backing fiat currency, which is held by a third party regulated financial entity.
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