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

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
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