Crypto Exchange Adds Support For Stablecoin (USDT) With Reference To Coinbase Customer Request

After a long wait, Coinbase crypto exchange has finally added support for the most popular stablecoin Tether (USDT). Coinbase's announcement came just minutes ago, stating that the exchange supports USDT stablecoin for Android and iOS apps. According to the announcement, Coinbase customers will be able to "buy, sell, convert, send, receive or store USDT". The exchange stated that USDT support will be available in all jurisdictions except New York. USDT is currently available at https://t.co/bCG11KMQ6s and in the Coinbase iOS and Android apps. Coinbase customers can now log in to buy, sell, convert, send, receive or store USDT. Note that Coinbase only supports ERC-20 USDT running on the Ethereum blockchain. – Coinbase (@coinbase) May 4, 2021 Following the public release of COIN shares on Wall Street last month, the company is actively working to secure more services that can appeal to both private and corporate players. Last week, Coinbase acquired crypto analytics firm Skew to provide a more in-depth analysis of all cryptocurrencies. Likewise, the company announced its partnership with PayPal, which allows Coinbase customers to purchase cryptocurrencies directly from the platform through their PayPal accounts. The USD-linked stablecoin is the most popular among crypto traders and allows instant buying / selling of digital assets. Currently, Tether is the most widely used stablecoin with a market value of $ 52 billion. Recently, demand for the Tether stablecoin reached all-time highs. In the past year, Tether's circulating supply has increased tenfold, citing strong investor demand in the crypto space. Courtesy: Glassnode Coinbase says the decision to add support for USDT stablecoin follows strong demand from its customers. The Block reported that PayPal Launches Its Own Stablecoin Coinbase, with payment partner and giant PayPal wanting to launch its own stablecoin in the market. PayPal is currently

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