Coinbase asks users to convert their USDT to USDC for free

Coinbase is incentivizing its users to convert their Tether (USDT) holdings for USD Coin (USDC), according to a December 8 blog post. The post Coinbase asks users to convert their USDT to USDC for free appeared first on CryptoSlate.

Timeline of Usd-coin, Tether

On Thursday (8 December 2022), Coinbase announced that it had decided to make it easier for its “global retail customers” to convert Tether ($USDT) to USD Coin ($USDC), highlighting the latter's good reputation without directing attacking the former.

Coinbase (NASDAQ: COIN) has urged its customers to switch from Tether (CRYPTO: USDT) to USD coin (CRYPTO: USDC), billing it as the "most dependable and reputable digital dollar." What Happened: In a blog post on Thursday, Coinbase said that USDC is fully backed with “high-quality reserves.

Crypto exchange Coinbase has asked users to switch from Tether (USDT) to Circle's USD Coin (USDC), referring USDC as a “trusted and reputable stablecoin.” While the major reason remains unclear, Coinbase believes events of the past few weeks have made them take the decision to switch to a stablecoin it co-founded in 2018.

USDC stablecoin could get indirect access to the Federal Reserve's risk-free liability, as its partner BlackRock is set to apply for the Fed's reserve repo (RRP) program. The post USDC could get access to Fed's RRP via BlackRock partnership appeared first on CryptoSlate.

Tether, the company behind the largest stablecoin USDT, has expanded its offerings to include offshore Chinese Yuan (CNH₮) stablecoin on the Tron blockchain. The move will enable Chinese customers to send and receive payments in the stablecoin with fewer fees compared to the Ethereum blockchain. 

The platform introduces five Blockchain HASH games Size, Odd Even, Perfect Partner, Combat, and Cow Mystery.  Lucky Mystery Box, announced today the launch of its Crypto lottery on the TRON network.

The crypto winter has now chilled all manner of digital currency activities, including an IPO. FinTech Circle, which issues USDC stablecoins, said in an announcement Monday (Nov. 5) that it would no longer go public through a proposed business combination with SPAC Concord Acquisition Corp.

Following the first half of 2022's crypto winter and the demise of the Terra ecosystem, stablecoins like Tether caused a paradigm shift for many investors. Unfortunately, a large number of these coins have fallen short of delivering the stability they promised.

TRON (TRX) remains in a stagnant phase, refusing to make any kind of momentum for an upward run despite a number of positive developments that, in many cases if not all, should have helped trigger a significant price movement. Let's consider this summary: TRON's seven-day jump was less than 2% During the last 30 days, TRX has already lost 12% of its value Tron blockchain enjoys a significant boost in its stablecoin inflow Instead, the asset continues to consolidate within a narrow range and is not showing any signs of immediate recovery.

Stanley Choi, Block Media Reporter Tether, the company behind the USDT stablecoin, was reported by the Wall Street Journal (WSJ) on January 1 to have drastically increased its external lending over the past year without providing details on the collateral. did.