Everex Wallet | USDC Coin

New York, NY — Everex is pleased to announce that their Ethereum powered platform now supports USDC stablecoin transactions with direct bank payment gateways in multiple countries through the Everex Wallet.

Fast Bank to Crypto Switch

Having recently acquired a Money Service Business License for the state of New Jersey in the US, Everex’s move to add USDC support comes as the next step towards building a stablecoin-powered payment gateway system to help users with fast and inexpensive conversions between currencies held in bank accounts, Decentralized Finance (DeFi) lending protocols, and the largest global cryptocurrency exchanges. Focusing on retail cryptocurrency players and non-crypto customers, Everex now offers direct conversion between US Dollars, Euro, or Thai Baht to USDC and vice versa. Once a user obtains USDC, it can then be moved to and from exchanges supporting USDC such as Binance, Coinbase, BitMart and coming popular decentralized lending protocols like Compound and Dy/Dx.

A simple solution for global payments

Everex’s original approach to using stablecoins for peer-to-peer money transfers helps individuals and SMEs send money to relatives in other countries, or conduct business between the US, Europe, and Asia with daily peer-to-peer settlements. Following the integration of USDC into the Everex wallet, users can now perform direct deposits and withdrawals to or from any US bank account via ACH, European IBANs via SEPA, and direct bank transfer or cash deposit through BahtNet, a Thailand-based interbanking payment system. Moving funds between Ethereum addresses only takes a few seconds regardless of the recipient’s location.

Other than USDC, Everex wallet also supports DAI, an algorithmic USD-pegged stablecoin issued by MakerDao, the most popular token for DeFi, as well as the company’s native token EVX.

More Wallets, More Use Cases

Developed by Circle, a US-based peer-to-peer payments technology company, USDC is among the most notable stablecoins in the market. An ERC-20 coin that is pegged to the US Dollar, USDC was first introduced by Circle in 2018, garnering significant interest among key players in the blockchain industry as well as those in the mainstream financial sector. As a result of its novelty and the potential it has to address key issues that have troubled the industry, Circle raised approximately $110 million in venture capital to develop USDC.

In essence, USDC is used as a way of tokenizing US Dollars to facilitate their use over public blockchains. This enables US Dollars to be moved anywhere in the world within minutes and presents a stable alternative to the more volatile cryptocurrencies available in the market.

For more information about Everex, please visit our website. You can download our wallet on the Google Play Store or use the iOS version.

For more information about Circle, please visit here