ICONFi Now Supports USD Coin (USDC) Stablecoin
Hello ICONFi Community,
We are pleased to announce that we are now supporting USDC stablecoin in our suite of savings products. USDC will be available in Earn products, both flexible and fixed, on our app, starting February 17th. Stablecoins will likely be the next new benchmark medium for payments, so enjoy the peace of mind of the fully audited and transparent USDC and also enjoy much higher interest rates than what the traditional institutions can offer.
ICONFi has launched with USD Tether (USDT) stablecoin. However, many of our early users have been requesting USDC. We appreciate your feedback and bug reports since our official launch. The ICONFi team is working hard on many of your other requests.
USDC: A Stablecoin with a Focus on Transparency
USDC is a USD-pegged stablecoin with a focus on transparency. USD Coin is managed by a consortium called Centre, founded by Circle and including cryptocurrency exchange Coinbase and Bitcoin miner company Bitmain. The total number of USDC tokens issued and outstanding at a current point in time is fully and transparently viewable through any publicly available block explorer. Moreover, all USDC tokens issued and outstanding are backed by an equivalent amount of US Dollars held in custody accounts. The US Dollars are held in segregated accounts at US federally insured depository institutions and in approved investments on behalf of the USDC holders. Finally, Grant Thornton LLP, one of the top accounting firms in the world, examines the US dollar reserves and the USDC tokens and issues a monthly independent audit report.
If you have any questions or feedback, please open a ticket at #support channel on https://discord.gg/YdWsjaW8Eh.
ICONFi is a digital asset savings platform that provides simple and intuitive earn products so that anyone can easily multiply crypto assets. ICONFi aims to simplify the complicated processes often associated with crypto assets and offers a sleek, straightforward user interface which supports saving, staking and airdrop activities at the palm of your hand.