Cryptocurrencies
Circle Joins Ranks of Stable Crypto Coins With Dollar Token
- Mobile payments company’s USD Coin pegged to the greenback
- Gemini, Paxos issued their own tokens earlier this month
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Circle Internet Financial Ltd. is joining the controversial world of stable coins.
The mobile-payments and cryptocurrency-trading firm is introducing a digital token pegged to the value of the U.S. dollar to be known as USD Coin. A consortium called Centre will serve as a platform for users to make deposits from traditional bank accounts, convert fiat currency into tokens issued by members to facilitate transactions and provide the ability to shift back to the greenback.