Cryptocurrency exchange Coinbase announced on Tuesday it was officially expanding USDC crypto trading globally. Coinbase reported it now supports more than 100 countries, adding trading between cryptocurrencies to 50 new countries, and USDC stablecoin crypto trading now available in 85 countries.
“Stablecoins like USDC have a number of advantages over cash: they can be transferred near-instantly and globally, used in a wide variety of dapps, and stored securely and privately in a crypto wallet. Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing. There are more than 300 million USD Coins in circulation today, supported by +100 ecosystem supporters. For these reasons, we see USDC as an important step towards a more open financial system.”
Coinbase also noted that for new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation.
“We won’t fully realize this vision without increasing the number of traditional fiat on-ramps, which we are committed to expanding where possible. We also work with projects like Airtm, through our investing arm Coinbase Ventures, to increase access to fiat payment rails.”
Coinbase added that millions more people in the countries below can sign up for a Coinbase or Coinbase Pro account and access the cryptoeconomy today:
Angola, Armenia, Aruba, Bahamas, Bahrain, Barbados, Benin, Bermuda, Botswana, Brazil, British Virgin Islands, Brunei, Cameroon, Cayman Islands, Costa Rica, Curaçao, Dominican Republic, Ecuador, El Salvador, Ghana, Guatemala, Honduras, Jamaica, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Macau, Maldives, Mauritius, Mongolia, Montenegro, Namibia, Nepal, Nicaragua, Oman, Panama, Paraguay, Rwanda, Serbia, South Africa, Taiwan, Trinidad and Tobago, Tunisia, Turkey, Uganda, Uruguay, Uzbekistan, Zambia