San Francisco-based cryptocurrency giant Coinbase announced today that it has added support for USD//Coin (USDC), a stablecoin created by competing crypto exchange Circle, the owner of Poloniex.

https://www.youtube.com/watch?v=COljxvEgDOg

According to the announcement, USDC is already listed on Coinbase’s retail website and supported by Coinbase Wallet, the user-controlled wallet for storing ERC-20 tokens. The dollar-pegged stablecoin will be coming to Coinbase Pro in the coming weeks.

USD Coin is the first stablecoin to be added to Coinbase and the listing marks the first collaboration between Coinbase and Circle, which are both competing for users within the United States.

“Today’s launch is made possible by the collaboration between Coinbase and Circle, as co-founders of the new CENTRE Consortium. Both Coinbase and Circle operate with a compliance-first approach and a track record of security. That’s why we believe CENTRE is uniquely positioned to offer USDC to people who want to take advantage of the benefits of stablecoins,” said Coinbase in the announcement.

The listing comes just a week after USDC saw a significant jump in trading volume following the capital flight from Tether (USDT) due to concerns over the liquidity support on Bitfinex.

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.