As part of Circle’s commitment to making Poloniex the premiere destination for crypto asset trading, we are announcing the addition of our new stablecoin USD Coin (USDC) to Poloniex. USDC serves as a bridge between dollars and trading on Poloniex.
USDC is a fully collateralized US dollar stablecoin. By using Circle’s USDC issuance service, individual and institutional investors can deposit US dollars from bank accounts, convert those dollars into USDC tokens and send them to their Poloniex wallets to trade crypto assets. Conversely, customers can send USDC tokens from Poloniex to Circle’s USDC service and redeem the corresponding amount of US dollars.
USDC uses the ERC-20 standard, which provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors. It is the first fiat stablecoin developed by CENTRE, the open source project and membership consortium, with Circle being the first of several forthcoming members to launch USDC issuance.
USDC deposits and withdrawals are currently live. Trading in BTC/USDC, ETH/USDC, and USDT/USDC pairs will be enabled by September 27th, 2018 at 10:00 ET.
For more information about transferring USDC in and out of Poloniex, please visit our Help Center article.
The Poloniex Team
Originally published at blog.circle.com on September 26, 2018.