Review on USD Coin by Danh Huỳnh Ngọc Công
USD Coin for the world finance
USD Coin is among one of the most well-known stablecoin on cryptocurrency market which is mainly issued by Centre, a company that was founded by two giant company in the industry: Circle and Coinbase. Each USDC is pegged to the US dollar at a 1:1 ratio and the holders can trust it as Grant Thornton LLP does monthly reports to confirm the existence of the USD dollar in Centre's reserves. The company has established partnerships with a lot of technology and financial institutions. By operating USDC, Centre aims to create a stablecoin that can improve the financial situation of the world.
Pros
- USD Coin is backed by the giant of the cryptocurrency industry - Coinbase. The information about the whole company is published very clearly on the internet Therefore, technology, business development, or other aspects would be directed properly
- The assets that back USD Coin is audited monthly by Grant Thornton LLP so there should be no worries about the problems that other stablecoins face
- The project is open-sourced whose code can be viewed by anyone
- USDC is a smart contract on Ethereum blockchain so they security, speed, and advancement is top-tiered
- A lot of exchanges and wallets have integrated USDC to their platforms. The token has a good liquidity for traders
- Getting USDC with fiat is simple (if you are verified) and the support team is available around the clock
Cons
- Due to legal issues, the citizens of some countries cannot possess USDC through the web portal
- Minimum purchase is maybe an obstacle to someone who want to redeem USDC from US dollar
- USDC may depend much on the performance of Ethereum blockchain
