Buycoins Africa now supports the sending and receiving of USDC stablecoin.
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Buycoins announced the support for Circle’s stablecoin USDC few days back, allowing users to hold, send and receive USDC.
“You can hold, send or receive USDC using your BuyCoins account within minutes at a very low cost. Click here to read more about how USDC works or contact us at email@example.com if you have any questions.”
Buycoins Africa claims that the launch is in demand by its users for a USD stablecoin to mitigate the high fall in Naira during this period of the COVID-19 pandemic.
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“This launch of USDC is particularly important because it’s coming at a time where the Naira has fallen significantly against the dollar over the last 2 months while the inflation rate remains high. USDC presents a hedging tool against the Naira devaluation and high inflation rates.”
Disclaimer: USDC and other cryptocurrencies are neither classified as legal tender nor regulated securities in Nigeria.