Goldman Sachs has shown their support for the new asset, stablecoin, as it seems more stable, unlike the fluctuation we observe with bitcoin. The backing from Goldman Sachs, predicts a secure future for the use of cryptocurrency as it will build trust in the system. The stable currency will help to reduce the fear of using cryptocurrencies, as the government of the United States had warned against such high volatility observed on this platform.
You Can Now Trade On Circle StablecoinUSDC
Stablecoin is being regarded as a haven to store funds, and it is being traded in over 50 exchange platforms such as
- Bit-z, DDEX
- QCP Capital
- Swift Blockchain
Moreover, this is just to name a few of these platforms. Stablecoin will help move people from conventional banking to a more stable form of banking with a trustworthy system. The risk and unpredictability observed in the cryptocurrency market will be avoided with the control provided for with the use of stable coin.
Benefits of Stablecoin
Stablecoin is the future of cryptocurrency with the benefits of trading with stablecoin. You do not have to pay any charges while withdrawing your coin so as to encourage people to use this platform. It is stable and not as volatile as other cryptocurrencies. Moreover, this will attract more investors and It is a safe haven to store fund.
The stablecoin is pegged against the dollar while being traded in popular exchange platforms. A central project governs it which helps reduce the volatility in trading with stablecoin.
The Future of Transaction
It is apparent that Goldman Sachs Circle USDC and other major financial institution are observing the trend of cryptocurrency. Hence, they are backing a less volatile stablecoin for their investment. Since they cannot invest in a highly volatile and less predictable bitcoin.
Huge financial institutions are aware of the benefits of trading cryptocurrencies. They are also aware of the risk involvement of investing in a highly volatile market. And just like the US government, they have stayed off the cryptocurrency trading for a long time. But with their backing of the stablecoin, it seems they have found a reliable coin base. In which they can invest in cryptocurrency, and cope with in using cryptocurrency.