Coinbase Launches USDC Trading and Obtains Important License

Coinbase users can now access the stable coin USDC. Also, Coinbase Custody just obtained an important license.

First, Coinbase Consumer customers can now buy/sell/trade/hodl USDC, a stable coin pegged to the US dollar. That is useful for those who want to “go to cash” but don’t want to get out of the crypto space.

Secondly, Coinbase Custody has obtained a license under New York State Banking Law to operate as an independent Qualified Custodian. Coinbase Custody will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS).

That second point doesn’t mean much to the average retail customer, but it is bullish in terms of Coinbase and institutional investors, so it is notable in general for crypto.

Lots of big news these days, especially in terms of Coinbase which is rapidly stepping up its game.