USD Coin (USDC) is a collateralized USD stablecoin issued by Circle in partnership with Coinbase, while USDT issuance is handled by Tether.
It is the second-largest stablecoin in the world by market capitalization, and the third-largest by trading volume.
Yesterday Coinbase suggested on its official blog to stop using Tether, or USDT, and to start using USDC instead.
Something similar had also been done a few weeks ago by Binance with its BUSD, i.e., the third stablecoin by market capitalization, and the second by trading volume.
Coinbase’s request: USDC instead of Tether
Coinbase on its blog writes that stability and confidence are of utmost importance to clients at this time, specifically citing stablecoins collateralized in fiat currencies as assets that provide clients with stability and confidence during periods of volatility.
They add, however, that the events of the past few weeks have tested some stablecoins so much that there would be “a flight to safety.”
The
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