Liquid Crypto Exchange to list the USDC Stablecoin

Liquid cryptocurrency or digital asset exchange announced that it will list USD Coin.

USD Coin (USDC), a regulated, US dollar-backed stable coin governed by CENTRE, an industry consortium co-founded by Coinbase and Circle.

Quoine is the fintech company behind digital asset exchange Liquid, is licensed by the Japan Financial Services Agency (FSA). Quoine is a member of the Japan FSA cryptocurrency self-regulatory body, JVCEA, mandated to formulate guidelines for cryptocurrency exchanges in Japan.

Circle is a money services business registered with FinCEN. It is holding 48 US state money transmitter licenses. Circle was also the first recipient of the BitLicense issued by the New York State's Department of Financial Services (NYDFS). It is actively working with NYDFS to bring USDC to New York customers in a regulated way.

USDC Stable Coin in brief

Each USDC coin is a 1 to 1 (1:1) representation of a US dollar on the Ethereum blockchain.
Hence USDC coin maps to a single US dollar. USDC coin moves neither up or down relative to its reference currency, USD. USDC is 100% collateralized by a corresponding US dollar held in accounts subject to regular public reporting of reserves.

Executive Opinions

Circle CEO Jeremy Allaire said, "We are thrilled to see Liquid launch support for USDC. As the leading exchange for the Japanese Yen market and a pioneer in the cryptocurrency exchange market, they are a strong partner for USDC. We share a common vision of an open, connected and global financial system built on cryptocurrency assets and blockchain technology, and this is an important step in reaching that goal as we connect additional major markets with open fiat rails. We are looking forward to future collaboration with Liquid as we expand our efforts in this space together,"

Liquid CEO Mike Kayamori said, "Circle is a natural partner and ally for Liquid as we share common values in our motivation to clean up cryptocurrency, bring much needed liquidity to the space and lay the foundations for the kind of sector-wide stability that will lead to the next wave of adoption. This pro-regulation partnership is more than just a listing of USDC. This is a pledge between Liquid and Circle to join forces together and with other regulated actors to legitimize cryptocurrency for the whole world,".

Liquid Platform and USDC Availability

To start with, USDC trading pairs on Liquid will include BTC and ETH. The listing of USDC on Liquid cryptocurrency exchange will further strengthen the crypto sector.