Buycoins Adds Support for USDC Stablecoin on its Platform.

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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.

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“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 support@buycoins.africa if you have any questions.”

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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.

“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.”

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Disclaimer: USDC and other cryptocurrencies are neither classified as legal tender nor regulated securities in Nigeria.

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