Breaking: Circle Internet Financial Launches Stablecoin ‘USD Coin’

Circle is introducing a stablecoin dubbed the “USD Coin,” with a consortium called Centre serving as the platform.

Circle Internet Financial Ltd. is launching a USD-backed digital token dubbed the “USD Coin,” Bloomberg reports Wednesday, September 26.

A consortium called Centre — which includes Bitmain Technologies Ltd. among its members — will act as a platform for deposits and fiat conversions for the stablecoin. Bloomberg notes that although Centre is a “wholly owned subsidiary of Circle,” there are plans in plan to turn it into an independent organization.

The USD Coin will reportedly be available on Circle’s Poloniex exchange, as well as Huobi, OKCoin, KuCoin, and digital wallet and exchange Coinbase.

Cointelegraph will update this story as it continues.