KuCoin P2P Fiat Trade Supports USD Coin (USDC)

Dear KuCoin Users,

KuCoin has added support for USDC on P2P Fiat Trade. Users can now purchase USDC via CNY and other supported currencies on KuCoin P2P Fiat Trade. Also, the USDC/USDT, BTC/USDC and ETH/USDC trading pairs are available on KuCoin Spot Market.

USDC

USDC is issued by regulated financial institutions backed by fully reserved assets, and redeemable on a 1:1 basis for US dollars (1 USDC = 1 USD). USDC is governed by Centre, a membership-based consortium that sets technical, policy and financial standards for stablecoins.

Joao Reginatto, the director of product management at Circle, tweeted on July 2 that USDC's circulation supply exceeded $1 billion.

DAppTotal.com shows that the total circulation of stable currencies has continued to increase, going from 10.9 billion US dollars at the end of May to 11.9 billion US dollars by June 30. The total circulation of emerging stable currencies was 1.82 billion US dollars, an increase of 250 million over the previous month. The total circulation of USDC was 980 million US dollars, accounting for 54.1%, ranking it first place.

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