CHICAGO, June 18, 2020 /PRNewswire-PRWeb/ -- CoinFlip, the leading Bitcoin ATM provider in the U.S., announced today that it has listed its first stablecoin, USD Coin (USDC), on its 720-terminal network. The move is CoinFlip's first step into the fast-growing decentralized finance (DeFi) market, which provides open-access alternatives to banking services. CoinFlip customers will have access to many popular DeFi services, such as BlockFi, crypto.com and Compound.
CoinFlip selected USDC because it is backed by fully reserved assets and is integrated into exchanges and DeFi services. USDC is issued by regulated financial institutions and is collateralized by the U.S. dollar, functioning as a bridge between the dollar and trading on cryptocurrency exchanges. Stablecoins, such as USDC, help holders store their wealth in crypto without the volatility of crypto markets.
"CoinFlip's mission has always been to bank the unbanked and by listing USDC as our first stablecoin, this is more of a possibility than ever," said Daniel Polotsky, CEO and Co-Founder of CoinFlip. "CoinFlip shares common goals with the DeFi industry, which are to expand access to financial services and give more economic opportunities to everyone."
CoinFlip's listing of USDC follows the launch of CoinFlip Preferred, a high-end cryptocurrency OTC trading experience with low investment minimums. This is also the second new listing for CoinFlip this year, having previously listed XLM in February, and brings the number of available cryptocurrencies available on its platform to ten, including BTC, BNB, and ETH. These moves reflect CoinFlip's strategy to grow through offering carefully chosen listings that broaden its customers crypto trading options and through continued expansion of its ATM network across the U.S.
About CoinFlip:
CoinFlip is the leading Bitcoin ATM operator in the world, with over 700 installations across 34 states and support for ten types of cryptocurrencies. Striving to provide the best cash-to-crypto experience available, CoinFlip offers 24/7 customer support, registration in minutes, and the industry's most favorable exchange rates. Founded in 2015, CoinFlip is headquartered in Chicago.
For more information, please visit https://www.coinflip.tech/ and join the conversation on Facebook, Twitter, Instagram and LinkedIn.
SOURCE CoinFlip
Share this article