Chile's adds stablecoins to its bitcoin and cryptocurrency marketplace

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The Chilean exchange for bitcoin (BTC) and other cryptocurrencies,, added the stablecoin

USD Coin (USDC) to its catalog of digital assets. As of yesterday, August 24, local traders, as well as those in Argentina, Colombia and Peru, can now trade with the stablecoin on its exchange platform.

The cryptoasset, which is pegged 1:1 to the US dollar and backed by Coinbase and Circle, is the first of its kind on This option represents an alternative for traders

looking to hedge against potential bouts of volatility. In addition to USDC, the exchange also offers support for BTC, ethers (ETH), bitcoin cash (BCH) and litecoin (LTC).

USDC credits on are free of charge. That is, any merchant can send funds without paying fees. In the case of withdrawals, users will have to honor a 5 USDC fee at the time of settlement, the exchange said

on its website. The cost applies to the four South American countries in which the company operates. Chile's adds stablecoins to its bitcoin and cryptocurrency marketplace Chile's adds stablecoins to its bitcoin and cryptocurrency marketplace These are the fees Chilean users must pay when withdrawing funds from the exchange. Credits are exonerated. Source:

In relation to the fees for trading within the platform, these vary according to the type of order and volume traded. For instant purchases and sales, the commission is 1.2%. For advanced exchanges the fees are variable and range from 0.2% to 0.8%.

Choosing a stablecoin with backing

About the launch of USDC exchanges, Guillermo Torrealba, CEO of, explained that the company delayed in giving this

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step because of the analysis they conducted on the stablecoin. One of the main concerns of the company was to adopt a stablecoin that was sufficiently backed.

“After months of in-depth market analysis, we decided to implement the USDC stablecoin, a currency created by Circle and Coinbase, on our platform. These are two companies regulated in the United States that meet all the conditions of auditability, liquidity and, above all, projection,” the executive clarified through a press release.

The stablecoin chosen by is an ERC-20 token that runs on the Ethereum network. At the time of publishing this article, USDC is the eighth largest cryptocurrency on the market, by market capitalization. According to figures from CoinGecko, USDC exhibits a total of $27 billion.

By tokenizing the dollar with USDC, traders can operate in a variety of ways, for example: sending remittances, exchanging their cryptocurrencies for local currency in Chile, Argentina, Colombia or Peru, making investments and protecting themselves against possible market crashes.

CryptoNews recently reported that was implementing a new system for sending and receiving remittances. The solution is the company’s bid for faster transactions through Bitcoin’s Lightning network.