now on, Buda.com users can exchange USD Coin
for fiat money or other cryptocurrencies through the platform.
(USDC) stablecoin to its trading list, so users will now be able to perform buy / sell and exchange operations with that digital currency.
Buda.com incorporates USD Coin
its trading list
This was announced by the Buda.com team in a series of videos published through its official channels, where they point out that the incorporation of USDC
to its trading catalog aims to offer users a new tool that is not affected by volatility as other digital currencies offered through the platform.
Following the announcement made by the Buda.com team, DiarioBitcoin found that the currency is now available for trading operations with Chilean pesos, Colombian pesos, Peruvian soles and Argentinean pesos, although at the moment these can only be done through the “Vista Trader” interface. It is also possible to use USDC to trade for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash
The choice of USDC
In an exclusive interview with the DiarioBitcoin team, Buda.com ‘s country manager for Colombia, Alejandro Beltrán, shared some additional information regarding the choice of USD Coin
as the first stablecoin to be added to its commercial catalog.
In this regard, Beltran said that from the exchange had already several months making the
respective research and monitoring the price of the main cryptocurrencies. In response to the need for an alternative to the volatility and stagnation present in the latter, they were looking for an option beyond the Colombian pesos or other local currencies operating in the region, arriving precisely at the idea of incorporating a stablecoin.
Faced with the choice of USD Coin among the available in the market, Beltran commented:
“After several months, we began to examine which could be the stablecoins whose real backing could be audited, tested, and had very good growth potential. In the end we came up with USD Coin, whose two main companies are properly regulated in the US, whose asset basket support is 100% proven, and we feel it is a good alternative because they project quite strong growth.
We believe it is a very good alternative for users who not only want to protect themselves in an index that replicates the dollar, but can also develop other types of services that can be extended through the use of a transnational dollar through a token”.
As for the possibility of incorporating other cryptocurrencies, especially stablecoins, Beltrán said that they will first measure the receptivity to USDC by users, although they have very good expectations about its future. He also added that there are no immediate plans to add another such currency, although this will be mainly subject to requests from the platform’s users.
With information from Buda.com
Article by Angel Di Matteo / DiarioBitcoin
Image by Unsplash