Luno is of the leading cryptocurrency exchange platforms in South Africa that came up with the announcement with the addition of USDC as the most secure stablecoin in the market for users.
Marcus Swanepoel, CEO, and founder of Luno, came up with the official press statement, which arguably says this is the most reliable stablecoin in the market.
While broadening the platform with USDC, it is an exciting move for them and for the users. Along with bitcoin and others, including Ethereum, that reached all-time highs, cryptocurrencies are on focus and comes with the opportunity for being ripe for traders and investors to avail advantage.
USDC is a stablecoin, which is tied with the US dollar. It offers the Luno customers more opportunity for storing their wealth in the reserve currency of the world. The US dollar is showcasing its continuous dependability as compared to the volatile currencies in 40 countries where Luno operates.
The stablecoin is going to offer the addition of bitcoin offerings, along with other cryptos.
As Luno said, the coin is going to be available to instate buyers. Apart from the stability, it comes with more benefits for the interested traders.
US stablecoin is the safest one, being the best regulated currently in the market. It is totally collateralized, which makes it to reserve the one-to-one ratio with the US dollar. The monthly audits of its reserves are done by Grant Thornton, which is a leading accountancy firm.
Swanepoel also pointed out that the stablecoins are less volatile than the cryptocurrencies with their 1:1 ratio to the US dollar. He said, “Cryptocurrencies like Bitcoin and Ethereum remain volatile currency options. The introduction of USDC empowers our users to hedge against volatility during market dips and ensures they can quickly and easily access funds on the platform when they want to trade or invest.”