FTX, one of the fastest-growing digital currency exchanges in the market has announced that they are now supporting TRON-based USD Coin.
— FTX (@FTX_Official) June 22, 2022
The TRC20-based USD Coin is one of the three stablecoins that FTX recently supported on their exchange platform alongside AVAX USDT and Polygon USDC.
USDC on TRON has been one of the most popular stablecoins on the TRON blockchain.
What is FTX?
FTX is a digital currency exchange based in the Bahamas and since its founding, it became one of the top centralized crypto exchanges in the market.
The exchange provides support to over 300 cryptocurrencies and offers products like derivatives, options, and leveraged tokens. They also provide advanced trading options like margin and futures trading on their platform.
Aside from their wide range of supported cryptocurrencies, they also allow users to deposit fiat currencies without fees to their account using FTX Pay.
The list of supported fiat currencies is the following:
FTX have their native token called FTT that’s available on their trading platform and users would be able to get rewards by simply staking FTT to earn from airdrops and get discounts on fees.
They also have an NFT Marketplace which allows holders to mint, buy, sell and store NFTs on the FTX exchange.
FTX exchange is currently not available in the USA however, they have a company partner in the US and it is called FTX.US which offers spot trading and following the digital currency regulations in the USA.
What is USDC?
USDC is a digital stablecoin that is pegged to the USD and it was founded by Circle, a global financial technology firm and the cryptocurrency exchange Coinbase.
1/ UPDATE: Weekly #USDC reserves and liquidity operations reporting are now available.
From May 27th- June 3rd, we issued $2.9B USDC and redeemed $2.5B USDC, resulting in an increase in new circulation of $0.4B USDC. https://t.co/UCO30ArQ7t
— Circle (@circlepay) June 3, 2022
USD Coin is managed by a consortium called Centre, which is an open-source technology project by Circle and Coinbase.
USD Coin is the 2nd largest stablecoin in the market behind USDT (Tether) and it has a market cap of over 25 Billion USD.
USDC was first announced in May of 2018 and was launched in September of the same year.
Asides from their partnerships with different blockchains, they recently have a partnership with the largest financial services corporation Visa to allow the use of USDC for transactions on their payment network.
USDC has a TRC20-based token called the USDC on TRON.
For more news and updates, see Tron Spark.