Bringing you live news and features since 2006 

Announcement

Coinfix launches new dollar-backed cryptocurrency

RELATED TOPICS​

Blockchain company Coinfix Inc has launched USC, an encrypted digital asset pegged to the US dollar. With a fixed exchange rate of 1:1, it means that holders of USC will have the flexibility of a digital asset and the assurance of US dollar value.

Kevin Yu, the founder of Coinfix, argues that the appeal of USC lies in its stability, efficiency and security. USC includes a mechanism for stability by requiring Coinfix users to store corresponding USD in their Coinfix account. One unit of USC will be issued on Blockchain only after one unit is increased in its USD reserve.
 
In terms of security, the issuance process of USC will strictly be in accordance with the smart contract of Blockchain. It can be issued only after being reviewed by the third-party authority and meeting auditing standards. USC’s efficiency lies in its ability to deliver instantaneous transfers in 30 seconds with minimal transaction costs.
 
In addition, issues of USC are implemented through Blockchain voting. The leadership at Coinfix say that their core value is to leverage blockchain technology to “Enable financial assets to circulate freely and conveniently”.
 
Yu says that the vision of Coinfix brand is to create a global super payment centre that offers a convenient solution to the flow of more valuable assets (bitcoin, precious metals, crude oil, etc.) through Blockchain technology.

Latest News

REX Shares has announced a strategic reorganisation that integrates its REX Shares, MicroSectors, and T-REX products, as well as REX..
Allspring Global Investments writes that as it builds an investment platform for the future, it has filed for exemptive relief..
LSEG Lipper writes that ETF promoters in Europe enjoyed estimated net inflows (+EUR25.1 billion) for May 2024...
The European Fund and Asset Management Association (EFAMA) has published its 2024 industry Fact Book, which includes a foreword by..

Related Articles

Marcus Wayerer, Franklin Templeton
Franklin Templeton says that emerging markets are navigating a tricky environment at the moment, due to factors such as the...
Matt Barry, Touchstone Investments
Back in 2022, Cincinnati, Ohio-based Touchstone Investments launched its first four ETFs, having previously been predominantly a mutual fund company....
CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Jordan, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by