HandCash integrating with Circle’s USDC Stablecoin
There were “mixed reviews” following HandCash’s integration announcement with Circle’s USDC Stablecoin on Social Media, but as a developer building earning apps with HandCash, this integration is pleasing to hear.
Through my eyes, there are only benefits for Bitcoin-SV and HandCash users. It doesn’t hurt to have a convenient means of converting BSV into digitized dollars. It also doesn’t hurt if holders of USDC can convert their digital dollars into BSV within their newfound HandCash wallet. With this convenient integration, two major pain points have been removed.
I’m unaware if Circle and HandCash will enable users to convert USDC into actual bank account dollars, but if they do, that would be another great integration for BSV, as it would be the removal of yet another pain point — maybe even the final one before HandCash’s payment rail options come “full circle.”
(Pun intended)
Now maybe a BSV wallet integrating with anything else seems counterintuitive to some, but when people earn BSV — say, within my apps — some users will want the *option* to convert their earnings from a volatile asset like BSV, to what is the stable equivalent of a dollar. It strips the risk from the mix, for those unwilling to take it on. Having options like this is a good thing.
Another good thing was HandCash choosing the option of USDC over other Stablecoins. USDC is the premier Stablecoin on the market — with its proper and transparent backing — and it is likely to stay that way for quite some time. With the recent chaos in the algorithmic Stablecoin market and questions surrounding Tether’s specific holdings, USDC has become the most obvious and popular choice for digital dollar conversions. Legitimacy and transparency have value after all. Especially when the inevitable regulations come into play.
Plus, at a $50 billion+ market cap, that’s a lot of money and new users sitting there with easy onboarding potential. This creates tremendous opportunity for HandCash and BSV (and me). Sure, it’s not like the integration will instantly cause USDC holders to go out and convert it to BSV, but it does give BSV apps like mine the incentive and chance to get in the public eye, draw interest, and entice people into joining and using our BSV-based apps. Then in the event of success, USDC holders can easily convert their holdings to BSV within their USDC converting wallet: HandCash. The potential is there, anyway.
Just speculating here, but it is also possible that over time, USDC may use the BSV Blockchain for their issuances, as they’ll quickly realize the mining fees on Ethereum and elsewhere are incomparable to what BSV has to offer. A pipe dream at this point, yes, but one that seems quite probable given their friendliness and acceptance of BSV and HandCash. Something that’s very rare for Blockchain-based companies that work with other Blockchains in the industry. (Kudos to Circle for ignoring the noise and seeing Bitcoin and HandCash’s potential.)
So, as a BSV supporter and HandCash app developer, I’m pleased with this integration. There seems to be nothing but positives and potential from my point of view. When the professional Stablecoin meets the professional Blockchain, one can’t help but think it’s a match made in digital heaven.
Nice work, HandCash team.
Also published @ https://tipstampers.com/posts/handcash-integrating-with-circle-s-usdc-stablecoin
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