Cryptocurrency

24/05/19 08:36 UTC-4

Coinbase crypto-platform adds support for DAI stablecoin

On May 23, it became known that DAI – the newest tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
, will be included in the top of Coinbase crypto-platform. DAI, part of the MakerDAO system, can now be bought, sold, shipped, and received by retail customers outside of New York State, – as reported in the Coinbase blog.

 

The launch of the DAI stablecoin support

"Stablecoin DAI is launching and at iOS and Android apps. You may need to update your app to properly buy, sell, convert, send, receive, or store DAI." – Coinbase Twitter.

The Coinbase blog does not state the reason why DAI "will not be initially available to New Yorkers," but most likely this is due to more stringent state regulations.

Interesting in the section: Coinbase Cryptobusiness Exchange: an overview of the exchange platform

DAI – cryptocurrency with reference to the dollar. Unlike other stablecoins, it does not have a reserve of fiat currency to maintain the peg. Instead, it uses Network Maker (MKR) to ensure price stability. The key part of the process is the stability charge, which is paid in MKR or DAI and acts as a kind of loan interest rate.

Coinbase cryptocurrency platform announced the introduction of DAI stablecoin support. DAI has been available to Coinbase Pro users since December. Now it is available on the regular version of the site, as well as in the application for iOS and Android devices.

Editor: Yuliya Soroka

See also: "Theta Fuel young cryptocurrency showed a 143% growth rate: the historical maximum"

#cryptoplatform #Coinbase #DAI #stablecoin #cryptocurrency

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