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With the creation of tether and other stablecoins, it’s fast and easy to swap any cryptocurrency for tether, while converting a cryptocurrency to cash would take days and cost transaction fees. This creates liquidity for exchange platforms, creates no-value exit strategies for buyers and adds flexibility and stability to investors’ portfolios.

I simply purchased some US Dollars immediately. I do that many days. But the dollars I purchased immediately are crypto property, like Bitcoin and Ethereum. These US Dollar property are referred to as USDC and they’re issued by an business consortium known as Centre, led by Circle and our portfolio firm Coinbase. I count on many other firms will join the Centre consortium in the approaching months and years.

The coin is governed by the Centre Consortium, which oversees the technical and financial standards for the stablecoin and ensures that there is transparency round a true 1-to-1 backing. Which means for each USDC created, $1 of USD is held in reserve in the type of US Dollars and other money equivalents.