Spotlight on USD Coin — USDC Integrated on Wanchain for Multi-Blockchain Utility

Wanchain has integrated USDC stablecoin, introduced by The CENTRE Consortium — a joint venture co-founded by Circle and Coinbase

USD Coin (USDC) is a stablecoin backed by the US dollar. USDC is the product of an open source technology consortium called CENTRE, co-founded by Circle and Coinbase. CENTRE is responsible for governing the cryptocurrency and is focused on growing the utilization among institutions, merchants, and people everywhere in the world.

USDC was built using the Ethereum blockchain, and the recent integration with Wanchain now makes USDC blockchain agnostic. USDC can now interact with Wanchain-Bitcoin and any other native chain bridged to Wanchain in the future. This unlocks future use case possibilities such as BTC pairings on cross-chain decentralized exchanges, payment for multi-blockchain digital collectibles, or integration into cross-chain lending applications, to name a few.

What is USDC?

USDC is an ERC20 stablecoin backed by the US dollar. USD Coin allows people to use US dollars without requiring a bank account or specific geography. The coin is regulated, transparent, and verifiable. At the time of writing, USDC is a top 25 crypto asset by market cap, which now surpasses $240 million in market capitalization.

CENTRE

CENTRE is a governed network powered by price-stable crypto assets. They are focused on making exchange of value between people, businesses, and financial institutions as easy as sending a text message. CENTRE will provide the support, governance, and R&D to support the future of the initiative.

Circle

Circle. The New Shape of Money.

Circle was founded in 2013 to make money work like the internet — open, secure, free, everywhere. Circle offers four products which we’ll quickly outline below. Circle Invest makes it easy to invest in crypto even if you’ve never invested in crypto. With Circle Pay you can send money like a text. Circle offers an OTC crypto desk, Circle Trade. Finally, they offer an exchange called Poloniex, which is one of the world’s largest crypto exchanges.

Circle Trade

Circle Trade is Circle’s global OTC crypto trading desk, which is currently experiencing over $2 billion in monthly trading volume. Circle Trade caters to both individuals and institutional customers.

Poloniex

Poloniex is Circle’s exchange, offering advanced tools for advanced trading. The exchange is one of the world’s most active exchanges and, by no surprise, offers many trading pairs with the USD Coin. The exchange recently listed the highly anticipated Grin coin.

Circle Pay

Circle Pay is Circle’s free, cross-border payment option available in 29 countries for payments to friends in USD, GBP, or Euros. The app allows people to send money as easily as sending a text, all within a beautiful UI.

Circle Invest

Circle Invest is Circle’s crypto investment tool that makes it super easy for anyone to invest in crypto. They offer several cryptocurrencies including BTC, ETH, EOS, and BAT, and are continuing to expand the offering. With Circle Invest, people can buy coin collections, buy individual coins, and set recurring buys to scale into certain investments over time.

Coinbase

Coinbase is many things crypto, as the company has been rapidly expanding its product offerings. Coinbase currently offers seven products across many different facets of the crypto universe. First, as mentioned above, is USD Coin, the stablecoin recently integrated with Wanchain. The Coinbase product itself is a place to easily buy, sell, and use cryptocurrency. The Coinbase Pro offering is also an exchange, but geared towards advanced traders. Coinbase also offers Coinbase Wallet for users to easily and securely store their cryptocurrencies and digital collectibles. With Coinbase Earn, users can earn cryptocurrency by learning about blockchain and cryptocurrency. For institutional customers in need of digital asset custody, Coinbase Custody offers a leading solution. Last but not least, Coinbase is helping to gain adoption with retailers and business who want to accept cryptocurrencies using Coinbase Commerce.

Wanchain

Wanchain is a blockchain infrastructure connecting the decentralized financial world. The blockchain, a fork of Ethereum, adds cross-chain and privacy protection to create a platform capable of creating a financial superhub of bridged networks. These bridges can be public-to-public (Ethereum to Bitcoin), public-to-private (Etheruem-to-Enterprise), or private-to-private (Enterprise-to-Enterprise). The platform uses secure multi-party computation and a locking mechanism to lock funds on the native chains and create a proxy token for use on the Wanchain platform. Additionally, Wanchain is rolling out its own Proof of Stake consensus in 2019, and is currently using Proof of Work. Current integrations include the Ethereum and Bitcoin blockchains, and an ERC20 set made up of Chainlink, MakerDAO, Loopring, and Gemini dollar. Wanchain’s next blockchain bridge will be to EOS.

About Wanchain

Wanchain is a blockchain platform that connects isolated blockchain networks to enable decentralized cross-chain transactions. Wanchain’s economic infrastructure enables cross-chain financial capability for distributed applications. Wanchain currently enables cross-chain transactions with Ethereum, Bitcoin, and ERC20 tokens. Going forward, we will continue to bridge blockchains and bring cross-chain finance functionality to companies in the industry. Wanchain has employees globally with teams in Beijing (China), Austin (USA), London (UK), Paris (France), and Madrid (Spain).

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