Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Vision pro on August 20, 2024, 02:57:27 PM
-
Coinbase and Yellow Card's partnership is an important step in the expansion of USDC in Africa. It can provide an affordable and reliable option for Africans in the fight against inflation and expensive financial services. USDC's entry into African markets will increase Tether's competition with USDT and potentially increase USDC's market share. However, given USDT's current dominance, it will be difficult for USDC to overtake USDT, but entry into new markets such as Africa is said to be an important step towards making this possible.
-
Coinbase and Yellow Card's partnership is an important step in the expansion of USDC in Africa. It can provide an affordable and reliable option for Africans in the fight against inflation and expensive financial services. USDC's entry into African markets will increase Tether's competition with USDT and potentially increase USDC's market share. However, given USDT's current dominance, it will be difficult for USDC to overtake USDT, but entry into new markets such as Africa is said to be an important step towards making this possible.
If. Coinbase want to enjoy this expansion of their seveice to African countries, they should make their card maintenence free for some period and allow people to buy usdc with their local currency and they will go boom. Ttey should also try as much as possible to allow payment gateway to accept yellow card. This will go well for the people in Africa because usd international payments has been problem for many countries and the governments are not helping.
The only problem that may arise later with their services is government regulations. Some of these government are greedy as he'll, they may send them packing even before their service becomes stable with their useless policies.
-
In terms of security, USDC offers better security, but why wait for government approval to buy cryptocurrencies? As far as I know, DAI is a stable and decentralized currency, so individuals can easily buy it and exchange it for Bitcoin.
-
In terms of security, USDC offers better security, but why wait for government approval to buy cryptocurrencies? As far as I know, DAI is a stable and decentralized currency, so individuals can easily buy it and exchange it for Bitcoin.
As per the announcement, Circle needs to go through Yellow Card to allow USDC to reach potential users, avoiding future legal issues. This is a cautious and necessary action when Circle wants to enter a new but potential market as Africa.
Everyone can buy and use decentralized stablecoins on CEXs or in personal accounts, but it might be illegal if the government bans crypto trading or some crypto services. I don't fully understand the legal status of crypto in African countries so I can't confirm anything. I believe Circle has made careful and reasonable considerations when having to put a lot of effort into legalizing their USDC.
-
As per the announcement, Circle needs to go through Yellow Card to allow USDC to reach potential users, avoiding future legal issues. This is a cautious and necessary action when Circle wants to enter a new but potential market as Africa.
I didn't think that regulatory laws would start to legislate stablecoins as a separate entity outside of cryptocurrency regulation laws, but on the contrary, I think that regulating stablecoins is easier due to their centralized nature and the ease of influencing the decisions of the company that prints them. In general, with inflation, stablecoins may be one of the wealth preservation options for citizens of these countries
-
I didn't think that regulatory laws would start to legislate stablecoins as a separate entity outside of cryptocurrency regulation laws, but on the contrary, I think that regulating stablecoins is easier due to their centralized nature and the ease of influencing the decisions of the company that prints them. In general, with inflation, stablecoins may be one of the wealth preservation options for citizens of these countries
We often have legal frameworks for stablecoins before having a legal framework for the entire crypto market because stablecoins are pegged to fiat and do not affect a government's economic regulatory power. In fact, stablecoin issuers are holding many bonds and helping governments have additional funds to continue operating.
Stablecoins as USDT and USDC can actually be a financial tool for people in countries with severe inflation to protect their assets. In Vietnam, where we cannot easily buy $ and are not allowed to directly withdraw $ from bank accounts, many investors also like to hold USDT to avoid the devaluation of the domestic currency against the $. They also want to earn APR from Savings USDT on Binance instead of having to pay fees to the bank to maintain a foreign currency account.