Cryptocurrency exchange Coinbase has significantly expanded global access to its USD Coin (USDC) stablecoin, now supporting trading in 85 countries—up from its previous availability only in the U.S. (excluding New York). Users can trade USDC on both Coinbase and Coinbase Pro platforms.
Why USDC Matters
USDC is a stablecoin pegged 1:1 to the U.S. dollar, meaning its value remains stable against USD fluctuations. This makes it an attractive option for:
- Inflation-prone economies: Citizens in countries like Argentina (47% inflation in 2018) can preserve purchasing power.
- Crypto traders: Reduces volatility risks compared to assets like Bitcoin.
- Cross-border transactions: Facilitates faster, cheaper transfers than traditional banking.
Coinbase and its partners maintain full USD reserves for every USDC issued, ensuring transparency (view reserves here).
Key Features of the Expansion
Global Accessibility
- 85 of 103 supported countries now offer USDC trading.
- Crypto-to-crypto trading only in many regions (no direct fiat conversions).
Newly Supported Countries
The expansion includes:
- Americas: Brazil, El Salvador, Uruguay
- Africa: Ghana, Kenya, South Africa
- Middle East: Bahrain, Kuwait, Oman
- Asia: Taiwan, Kazakhstan, Mongolia
👉 Explore USDC trading on Coinbase Pro
FAQs
1. How does USDC maintain its 1:1 USD peg?
USDC is fully backed by USD held in regulated bank accounts. Regular audits ensure reserve transparency.
2. Can I withdraw USDC as fiat currency?
This depends on local regulations. Some countries only allow crypto-to-crypto trades.
3. Why use USDC over other stablecoins?
Coinbase’s strong regulatory compliance and reserve audits offer added trust.
4. Is USDC available in New York?
No, due to strict state-level regulations.
Strategic Implications
Coinbase’s aggressive international growth aligns with rising demand for dollar-pegged assets in unstable economies. By avoiding fiat conversions in restrictive regions, the exchange navigates regulatory hurdles while expanding its user base.
👉 Learn about stablecoin benefits
Final Notes
- Correction: USDC was previously available only in the U.S. (excluding NY), not 35 countries as earlier reported.
- Disclosure: The original author holds small cryptocurrency amounts.