USCD in the Young Platform exchange, a stablecoin on the Ethereum blockchain and linked to the US dollar
Young is pleased to announce that as of today it will be possible to buy one of the most important stablecoins, USD Coin (USDC), on our exchange. Like all other stablecoins, USDC can be a fallback option in these times of high volatility in the markets.
What is USDC?
USDC is based on the Ethereum blockchain and is “pegged” to the US dollar, which means that each USDC represents 1 US Dollar.
Why USDC?
USDC is one of the stablecoins with the highest liquidity and market capitalisation.
Furthermore, it is a certified project whose reserves are audited every month by 5 accounting companies including Grant Thornton LLP.
How much is 1 USDC worth?
1 USDC = 1 $
This means that if, for example, I convert 1,000 Euros into USDC, I end up with the equivalent in US dollars.
Following this example: if 1€ corresponds to $1.11
1000 Euro = 1187.83 USDC
Which USD Coin pairs will be available on Young Platform?
USDC – EUR
USDC – BTC
USDC – ETH
USDC in the context of MiCA
After the implementation of MiCA, Circle, the company that issues the e-money token (EMT) USDC and the first to comply, has declared support for the right to redeem USD Coin at any time and at face value, as stipulated by the regulation. This means that users who possess it can exchange their USDC for dollars (at a 1:1 ratio) through Circle at any time. For more information please visit the Circle official website.
Want to know more?
Read the Academy article dedicated to USDC and those on stablecoins!
Official website: check out the Circle website and the USDC website.
Read the USDC Whitepaper.
For information and support, visit the Circle website or submit a ticket.
For all information requests and quotes from law enforcement, send an email to [email protected].
