• Coinbase has expanded its USDC trading to 85 new countries
• They have also expanded their fiat services to 50 more countries, or 103 countries in total
• This compared to the 32 countries they operated in last year

Despite the closing down of their Chicago office back in April this year, Coinbase has taken a number of steps towards expanding their business operations such as adding support for Dogecoin and also launching their own cryptocurrency debit card.

The latest of these steps towards expansion was announced via a blog post on May 14, where they announced that Coinbase has expanded their USD coin (USDC) trading to customers in 85 countries while expanding its services to 50 more countries in total. Some of the new territories that will now enjoy these benefits include Brazil, Taiwan, and South Africa. The announcement stated:

“We’re welcoming more people around the world to trade between different cryptocurrencies on a trusted platform. This helps accelerate the global adoption of crypto trading, and with USDC, enables access to a stable store of value.”

Breaking New Ground

With this expansion Coinbase reaches a total of 103 countries served and they have stated that this will enable them to accelerate global crypto adoption. They also touched on the importance of stablecoins by stating that stablecoins such as USDC have near-instant transferability and can be stored securely in private wallets. They also made mention of the fact that each USDC is backed up by a single US dollar and that monthly transparency audits are conducted which show that the 100 percent dollar-backed which will help reassure investors considering the information that has come to light about other tokens such as tether which are not fully backed up by fiat currency.

They also touched on the benefits of stablecoins for those in inflation-prone countries such as Argentina and Uzbekistan in which inflation is expected to rise to 20 percent by 2020. In such cases, it can be used to store up the wealth of citizens but this vision cannot be fully realized until there’s an increase in the number of traditional fiat on ramps.

Explosive growth despite bear market

It is rather impressive just how quickly they have further expanded as they themselves mentioned that 2 years ago, they were only available in 32 countries but now are available in 103.

Coinbase’s rapid expansion and the growth of stablecoins could be a good sign with regards to the future of crypto around the globe as it is becoming more accessible and in the event of failure of traditional financial markets can be a helpful alternative for the most vulnerable in society.