Circles new Stable Coin: competition for Tether

With the new Stable Coin Circle, a new Token arrives in the Bitcoin world. He adds to the series of Coins, such as Tether & co., come with the promise of stability to the market. As a trading vehicle, they are coupled in each case to a Fiat currency – in this case to the U.S. Dollar.

Circle a leads to a new Stable Coin. The new USD-Coin Circle’s promises, from a US-Dollar covered, and should be managed on the Centre platform. This Circle will bring more stability in the world of Bitcoin & co. and investors, among other things, make it easier to switch from crypto-currencies into Fiat currencies. Therefore, the CEO of Circle, said to Bloomberg:

“The market infrastructure, which offer Stable Coins, is the basis, the support of any financial transaction. They must be legitimate, trustworthy, and open-Standards to be established. We solve many of the fundamental problems that there are. This is a big difference compared to something like a Tether, and we think that the market will open up to us very quickly,“

Jeremy Allaire says.

As reported by Bloomberg also expect the Centre-consortium, that it is broken down in the coming months as an independent company, currently it still belong to the Circle. Another part of this consortium of Mining manufacturers, Bitmain is.

The USD-Coin is traded on Poloniex and a number of Asian exchanges, such as Huobi, OKCoin, KuCoin and DigiFinex,.

Stablecoins controversial

The idea behind stablecoins is quite welcome. Due to the fact that they are tied to Fiat currencies, they promise a fixed value. (Even if this promise is, again, controversial). Thus, it is possible, for example, to change within Bitcoin exchanges faster between crypto-and Fiat currencies. In fact, doubts as to the integrity of the Stable Coins are still in place. Just Tether has been suspected to allow Manipulation in Bitcoin. Also, when a new report is to dispel the doubts recently – completely out of the affair of the Stable Coin is not so far.