Introducing USDC to the Dacxi Platform: What You Need To Know
Dacxi is thrilled to announce that we’re deepening our support for crypto wealth by bringing USD Coin (USDC) to the Dacxi Wealth Platform. This means we’re giving more Dacxi customers the chance to build their wealth — with access to a stable store of value, available through a secure and trusted platform.
Today’s news marks an important milestone for Dacxi and crypto adoption. A year ago, Dacxi introduced its first stablecoin to the platform — Tether (USDT). Since then, we’ve continued to reinforce our promise to provide trusted, safe and legal access to leading digital assets — and the financial freedom they can bring.
What are stablecoins?
Stablecoins are cryptos whose value is tied to another asset — such as a fiat currency. Stablecoins (like USDC) have a number of upsides over cash. They can be transferred globally and near-instantly, stored securely and privately in a wallet.
As a stable store of value, they have benefits for any crypto investor. But in parts of the world where inflation is eroding wealth, they also have the potential to materially improve millions of lives. For example, in the UK, where consumer prices have risen by almost 10% in the past 12 months, stablecoins could provide a unique opportunity to protect against inflation.
What is USDC?
Launched in 2018, USDC is an open-source, smart contract-based stablecoin pegged to the US dollar on a 1:1 basis. Every unit of this digital currency in circulation is backed up by one USD held in reserve, consisting of a mix of cash and short-term US Treasury bonds.
USDC was developed by the CENTRE Consortium (co-founded by Coinbase and Circle), which says USDC is issued by regulated financial institutions. It’s unique in that it undergoes monthly transparency audits, which prove its 100% USD backing. There are more than 54 billion USD Coins in circulation today, supported by a robust ecosystem. These are just a few reasons why we see USDC as a key wealth-building opportunity for people around the world.
What is USDC used for?
USDC allows businesses to accept payments in digital assets — making it a preferred form of payment for a number of emerging industries, including decentralized finance and gaming.
The coin was originally created with two aims in mind:
- To drive fiat currency-to-cryptocurrency conversion
- To avoid the volatility of fixed-supply cryptocurrencies
Its biggest goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers, and Dapps as possible.
In simple terms, USDC’s mission is “digital money for the digital age”. It’s a stablecoin designed for a world where cashless transactions are the norm — and it also provides a safe haven for crypto traders in times of volatility.
Want to learn more about USDC and stablecoins? Find out here!
