Coinbase CEO: Clear regulation may promote the use of USDC

ChainCatcher news, Coinbase co-founder and CEO Brian Armstrong stated that clearer regulations could promote the use of USD Coin (USDC). It is reported that USDC is in fierce competition for market share with Tether (USDT).

ChainCatcher previously reported that Coinbase published a post calling for the conversion of USDT to USDC and will waive the fees incurred from converting USDT to USDC. Coinbase stated that it co-founded USDC in 2018, which is 100% backed by cash and short-term U.S. Treasury bonds held by U.S. regulated financial institutions, and is also supported by monthly attestations from Grant Thornton LLP (one of the largest audit, tax, and consulting firms in the U.S.). (Wall Street Journal)