Avalanche support for three stablecoins
Big fan of stablecoins and DeFi? You’re going to love this – we've recently added Avalanche support for three of our much-loved stablecoins.
Yes, USDT/USDT.e, USDC/USDC.e and DAI/DAI.e are now supported by the Avalanche blockchain in the Wirex app!
That means greater access to all things DeFi and significant savings on blockchain fees. Ready to check them out?
With its roots in J.R. Willet’s 2012 whitepaper, Tether is another well-established player in the stablecoin space. Like USDC, it was originally designed to be backed by United States Dollars – although whether it truly is remains the subject of much debate. Currently the 5th largest cryptocurrency by market cap.
One of the best-known stablecoins around, Circle’s USD Coin is pegged 1:1 to the United States Dollar. It’s backed by cash and short-duration US Treasuries with a whopping 32.5 billion USDC in circulation as of October 2021.
The first stablecoin to feature on the Wirex platform, Dai maintains its value through an automated system of smart contracts on the Ethereum blockchain. It’s regulated by MakerDAO and remains one of the most popular stablecoins on the market.