Along with the USDC announcement, Coinbase also announced a major global expansion, adding 50 more jurisdictions to its coverage, including such countries as Brazil, South Africa and Taiwan, among others.
Starting from today, Coinbase serves customers in 103 countries in total, the exchange wrote, adding that the move will help accelerate the global adoption of crypto trading.
USD Coin is the first stablecoin listed for trading on Coinbase platform: the exchange first listed USDC back in October 2018 for customers in selected jurisdictions in the U.S..
By adding USDC coverage in 85 global jurisdictions, Coinbase aims to “improve the lives of people in countries where inflation is eroding wealth,” according to the blog post. The company stated that stablecoins like USDC could provide an opportunity to protect against high inflation in newly added countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020.