Center, consortium responsible for USD Coin, announces plans to create global network for stablecoins
Center, consortium responsible for USD Coin, announces plans to create global network for stablecoins By Angel Di Matteo @shadowargelAs

such, Center


to launch more stablecoins linked to other fiat currencies in regions such as Africa, Asia and Europe, and to create a network where all of them can circulate


The consortium responsible for USD Coin, Center, announced the formation of a new team and plans to create what could be understood as a “global network for stablecoins”


This was revealed during an interview with The Block by Center’ s CEO , David Puth, who indicated that the new team is composed of six people, and that these members come from institutions such as Circle, Robin Hood, Fenwick & West and Clearfield Capital


Commenting on the idea of creating a global network for stablecoins, Puth said


“We have been working and pairing with partners overseas with whom we can ultimately connect stable interoperable currencies built to Center’s standards, similar to USDC in other countries.”

Stablecoins and Centre’

s expansion plans

The idea of creating a network that seeks to pool stablecoins under Centre’

s standards is part of the company’s expansion plans, which is why it has been looking for partners in markets within Africa and Asia. According to Puth, it is in these regions where these digital currencies see a greater usability, especially when it comes to transferring money without so much red tape and at a very low cost. In

this order of ideas, Puth commented that the idea is to create other stablecoins

linked to different fiat currencies, and that part of the agreements reached were in Europe:

“Right now, we’re working with a couple of partners and we’re looking at potentially two different stable currencies in the European region.”

And in addition to working on other stablecoins, among Center’s plans is to bring USDC to a wider range of networks beyond Ethereum, Algorand, Solana, Stellar and TRON



and other areas

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Another aspect that Puth made mention of was Center’

s interest in other ecosystems more to.llá of the stablecoins sector, among which he specifically cited the decentralized finance (DeFi) and digital collectibles (NFT)sectors.

With respect to DeFi, the Center executive commented that this space grew quite a bit this 2021, so we are currently seeing how the total offer has been increasing. Among the company’s plans is to promote a more active use of USDC and its other stablecoins just to bring them as a form of payment within the sector.

And in relation to NFTs, the plan is to integrate USDC into the ecosystem as a form of payment, information that was corroborated by John Shipman, the new chief commercial officer for Center, who commented:

“[The idea is] Building the underlying infrastructure necessary to enable NFTs to be traded on marketplaces is the obvious use case for us.”

Recently one of Center’ s partners , Visa, announced plans to move into the NFT space precisely to facilitate mechanisms for stakeholders to trade their digital collectibles as easily and simply as they do when trading fiat money.

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Source: TheBlockCrypto

Version of Angel Di Matteo / DiarioBitcoin

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