Menu

USD Markets Open For Trade on Finatch Exchange!

3 min read January 21, 2019 at 7:05am

Good day Finatch Supporters,

Finatch Exchange

Finatch Exchange Opens Trading on the USD Market Today being the 21st January 2019.

With these coins added to the USD Market:

 BTC/USD
   
 LTC/USD
   
 ETH/USD
   
 BCH/USD
   
 FIN/USD
   
 ZEC/USD

More Coins to be added in the future.

Finatch Exchange will be providing Multiple ways to choose from to deposit the United States Dollar into Your Trading Account one of which the Coinbase and Circle's USDC Token has been added as a means to deposit USD Into your trading account and trade on the USD Market. More Methods to make USD Deposit into your Finatch Trading Account will added soon. As we are taking into consideration USDT or TUSD and Skrill USD as another means of USD deposit to be supported by Finatch Exchange.

About USDC

On the September 26, 2018 Circle and the CENTRE open source consortium introduced a service to tokenize US dollars and use those dollars over public blockchains on the internet: USD Coin, also known as USDC. Individuals and institutions can enroll in this service to deposit US dollars from bank accounts, convert those dollars into tokens usable everywhere the internet reaches (subject to the token’s compliance controls), and redeem USDC tokens and cash out to bank accounts.

USDC

CENTRE's open distributed approach

This market infrastructure succeeds only if it is a base layer that we can all use and build upon, and which no one issuer can centrally control. Because of the critical need for openness and interoperability, Circle helped to create CENTRE, an emerging consortium that is defining standards and policies for fiat stablecoins as well as enforcing a governance scheme for issuers of CENTRE-enabled technology. USDC is the first release of technology developed by CENTRE, and more information about CENTRE’s USDC contract is available on the CENTRE blog.

Circle's-Center

USDC is built on openness and accountability, enshrined in the governance and technology standards effort of CENTRE. Commercial issuers of USDC are required by CENTRE to:

  • Be licensed to handle electronic money, such as banking, money transmission or trust charters
  • Have audited AML and Compliance programs that meet FATF standards
  • Back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors
  • Support fungible exchange and redemption of USDC tokens from other authorized issuer members
  • Meet other reporting and review requirements established by CENTRE

While Circle may be the first USDC issuer, we will certainly not be the last. Leveraging $20m in funding raised last year, CENTRE is launching its broader membership framework which includes other established financial technology firms as additional issuers. Over the coming weeks, CENTRE will share more about these other members beyond Circle.

Official Site:

https://www.centre.io/