USDC Treasury has just issued an additional 250 million USDC on the Solana platform, equivalent to 500 million USD.
MAIN CONTENT
USDC Treasury issued 250 million USDC on-chain Solana.
Total issuance value equivalent to 500 million USD.
The event took place on August 12 Beijing time.
What is USDC Treasury and what is its role in the stablecoin ecosystem?
USDC Treasury is the organization responsible for issuing and managing the supply of USDC – one of the leading stablecoins today.
In this role, USDC Treasury ensures value stability through the issuance or redemption of Tokens based on liquidity reserves and market demand, instilling confidence for investors and cryptocurrency users globally.
What does the issuance of 250 million USDC on Solana mean?
The issuance of 250 million USDC (equivalent to 500 million USD) on-chain Solana demonstrates the expansion of liquidity and the usability of stablecoins in a fast, low-cost Layer 1 ecosystem like Solana.
This event reflects confidence in Solana as an important platform for developing DeFi (Decentralized Finance) applications and asset tokenization services.
The expansion of USDC issuance on blockchains like Solana not only increases liquidity but also supports more efficient DeFi transactions, contributing to robust growth in the cryptocurrency ecosystem.
Quoted from DeFi experts, 2024.
What is the timing and specific information about this issuance?
According to Whale Alert, USDC Treasury issued a total of 250 million USDC at 18:55 and 18:56 Beijing time on August 12 on-chain Solana.
This move reflects a coordinated effort to meet the rising demand for stablecoins in trading and payments on this platform recently.
What impact does the issuance of USDC have on the cryptocurrency market?
This issuance helps increase the supply of stablecoins, boost liquidity, and mitigate price volatility in the cryptocurrency market similar to other issuances by USDC Treasury across blockchains.
Therefore, traders and investors have more options for stable assets to trade or store value, thereby improving operational efficiency in highly volatile markets.
Frequently Asked Questions
What is USDC and who issues it?
USDC is a stablecoin issued by USDC Treasury, ensuring the value of 1 USDC is equivalent to 1 USD based on corresponding reserve assets.
What are the benefits of issuing USDC on Solana?
Helps increase liquidity, reduce transaction fees, and enhance transaction processing speed in the cryptocurrency ecosystem on Solana.
Does the issuance of USDC create cryptocurrency inflation?
The issued USDC has a mechanism to ensure that the reserve assets match the circulating Token amount, preventing inflation.
How to know if the USDC issuance is legitimate?
The issuance information was made public by USDC Treasury along with on-chain tracking projects like Whale Alert, ensuring transparency and verification.
What can USDC on Solana be used for?
USDC on Solana is used for trading, DeFi, payments, and savings in compatible dApps.
Source: https://tintucbitcoin.com/usdc-phat-hanh-500-trieu-tren-solana/
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