What is USD Coin (USDC)?
USDC is a fully collateralized, U.S. dollar-based stablecoin. Similar to other stablecoins listed on Kraken, USDC serves as a hedge against crypto volatility, provides immediate liquidity to crypto holders, and can be used to seamlessly and quickly move assets around the world.
- USDC is the second-biggest stablecoin in the world, with a current market capitalization exceeding $500 million.
- As of December 1, 2019, over $1.3 billion USDC has been issued with $830 million redeemed.
- USDC is based on Ethereum’s ERC-20 standard, making it interoperable with most major wallet and custody services.
- USDC is the first stablecoin to be minted by member organizations of the CENTRE Consortium, a membership-based framework and governance scheme for the development and growth of money on the Internet.
- Every month, the U.S. dollar reserves for USDC are attested to by a top 5 accounting services firm, Grant Thornton LLP.
- The CENTRE Consortium was launched in October 2018.
- Project website: https://www.centre.io/
What time will funding and trading start?
- Funding: Kraken will enable deposits and withdrawals for USDC at approximately 14:30 UTC on January 8.
- Trading: The first trades will start shortly after funding is enabled as sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here).
- Updates will be posted on the status page near launch time.
How to deposit
- Navigate to Funding > Tick “Show all assets” or Search for USD Coin (USDC) > Click “Deposit” next to USD Coin (USDC), then generate a deposit address and send USD Coin (USDC) to this address
- For a visual guide, see our support article on generating new deposit addresses
Confirmations required before deposits credit
- 30 (approximately 6 minutes)
Fine print and fees
- Deposit/Withdrawal Minimum: 1 USDC
- Deposit/Withdrawal Fee: 0.5 USDC
- Deposit Address Setup Fee: 0.5 USDC
- Trading Minimum:
- 5 USDC (applicable to USDC/EUR, USDC/USD, USDC/USDT)
- Trading Maximum: None
- Original launch: October 2018
- All-Time High: $1.11 USD (Oct 15, 2018)
- All-Time Low: $0.967926 USD (Oct 26, 2019)
- Current: $1.01 USD (Jan 5, 2019)
- Market Cap: $516,834,859 USD (Jan 5, 2019)
- 518,112,180 USDC
Which services will USDC be available for?
Not (yet) available
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research, and invest at your own risk.
Download the Kraken Pro app from the App Store or Google Play:
Thank you for choosing Kraken, the trusted and secure digital asset exchange.
The Kraken Team
You must be logged in to post a comment.