CoolBitX, the secure hardware wallet company has partnered with Goldman Backed Circle to introduce the Dollar pegged stable coin USDC to Cool Wallet S.
Trading Cryptocurrencies is quite a task given the volatility of the market on a day to day basis. Fiat on-ramps have always had friction, to combat this problem stable coins such as Tether and USDC were released.
Goldman Sachs backed cryptocurrency exchange, Circle launched a new stable coin known as USDC this year in September by forming a consortium called CENTRE. The Stablecoin has already been accepted on major exchanges like Binance, OKEx, Coinbase, and wallets such as BitGo, Ledger, etc.
The latest entry to add USDC is CoolBitX which has introduced USDC on its hardware wallet Cool Wallet S to ensure smooth transitioning from Fiat to Crypto.
The Cool Wallet S supports Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple and even some ERC 20 tokens like BNB and JOY. The hardware wallet also supports Tether (USDT) but has decided to add USDC as some of the users lost faith in Tether which led to the 1:1 Dollar Peg breaking recently.
Micheal Ou, CEO and Founder of CoolBitX said:
“USDC is an exceptional improvement on asset-backed Stablecoins due to its ability to scale. We believe that the combination of CoolWallet S and USDC will play a crucial role in minimizing digital asset exchange rate volatility at scale and maximize the ease and security of crypto exchange”
The Cool Wallet S is currently priced at $99, the wallet is a waterproof, tamper-proof, impact resistant, and heat/cold resistant wallet. The wallet is also the first of its kind to enable users to add any ERC 20 token without the permission of a third party.
Did you like the news you just read? Please leave a feedback to help us serve you better