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Seeking Alpha 2021-10-20 13:01:00

Hedera jumps 11% in the week after USD Coin joins the network

Hedera Hashgraph (HBAR-USD), a cryptocurrency that uses directed acyclic graphs to time-sequence transactions, climbs 11.4% following an introduction of USD Coin (USDC-USD) on the network, Circle notes in a release. The introduction of USDC "means more people can take advantage of dollar digital currencies," and "enterprises and financial institutions can access deep liquidity across countries and platforms," said Jeremy Allaire, CEO and Co-founder of Circle. Note that Circle is the creator of the stablecoin, USD Coin (OTC:USDC). USDC (OTC:USDC) on Hedera (HBAR-USD) will be compatible with existing Circle Accounts and Circle Payments, Payouts and Accounts APIs, according to the release. "We decided to prioritize Hedera Hashgraph earlier this year because we felt it has the power for more enterprise use of USDC, and interesting features for the build-out of more enterprise applications," Circle VP of Product Joao Reginatto told CoinDesk in an interview. To date, Hedera (HBAR-USD) has more than 400K accounts

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