America’s largest crypto exchange, Coinbase, doesn’t want its customers to use the Tether stablecoin. It’s instead offering incentives on its own stablecoin, USDC.
In a company blog post on Dec. 8, Coinbase urged its customers to “switch to the trusted and reputable digital dollar: USDC.” It added that USDC is one of the most trusted and reputable stablecoins, fully backed with “high-quality reserves.”
Furthermore, USDC is issued by Circle, a Coinbase-affiliated company that co-founded the stablecoin in 2018. Coinbase has now initiated zero fee transfers between USDT and USDC to urge customers to make the change.
Coinbase reiterated that stability and trust were of the utmost importance to customers, now more than ever.
It added that USDC delivers transparency via monthly attestations by Grant Thornton LLP, one of America’s largest audit, tax, and advisory firms.
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