Today we’re deepening our support for crypto-to-crypto trading globally by adding USD Coin (USDC) trading to customers in 85 countries on Coinbase and Coinbase Pro.
We’re welcoming more people around the world to trade between different cryptocurrencies on a trusted platform. This helps accelerate the global adoption of crypto trading, and with USDC, enables access to a stable store of value.
Stablecoins like USDC have a number of advantages over cash: they can be transferred near-instantly and globally, used in a wide variety of dapps, and stored securely and privately in a crypto wallet. Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing. There are more than 300 million USD Coins in circulation today, supported by +100 ecosystem supporters. For these reasons, we see USDC as an important step towards a more open financial system.
Stablecoins are beneficial to anyone who trades crypto, but also have the potential to materially improve the lives of people in countries where inflation is eroding wealth.
For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation. We won’t fully realize this vision without increasing the number of traditional fiat on-ramps, which we are committed to expanding where possible. We also work with projects like Airtm, through our investing arm Coinbase Ventures, to increase access to fiat payment rails.
Today’s news is an important milestone for Coinbase and crypto adoption everywhere. A year ago, Coinbase was only available to customers in 32 countries. Over the last 12 months, we’ve reinforced our foundational work to better scale our trusted, safe and legal bridge to crypto. Today, we serve customers in 103 countries across every major continent, 50 of which we’re announcing today.
Millions more people in the countries below can sign up for a Coinbase or Coinbase Pro account and access the cryptoeconomy today:
Angola, Armenia, Aruba, Bahamas, Bahrain, Barbados, Benin, Bermuda, Botswana, Brazil, British Virgin Islands, Brunei, Cameroon, Cayman Islands, Costa Rica, Curaçao, Dominican Republic, Ecuador, El Salvador, Ghana, Guatemala, Honduras, Jamaica, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Macau, Maldives, Mauritius, Mongolia, Montenegro, Namibia, Nepal, Nicaragua, Oman, Panama, Paraguay, Rwanda, Serbia, South Africa, Taiwan, Trinidad and Tobago, Tunisia, Turkey, Uganda, Uruguay, Uzbekistan, Zambia