Major cryptocurrency platform Coinbase currently supports stablecoin Dai (DAI), as per an official release on May 23.

Coinbase says that the token is often purchased and sold, sent and received, and converted or stored in most jurisdictions on its platform, with the exception of New York, for now.

DAI is intended to keep up a 1:1 value with the U.S. dollar, however is backed collateral on the MKR platform. each Ethereum-based token MKR and DAI are issued by MakerDAO.

However, DAI has been price under $1 for much of 2019, that has sparked 5 voting sessions from DAO users on raising the stability fee for reclaiming collateral, in an attempt to keep the token nearer to its intended price of $1.

Coinbase recently declared that its cryptocurrency payment processor, Coinbase Commerce, can currently support the stablecoin USDC. The addition of this stablecoin support can reportedly permit users to receive payments while not transaction fees by receiving money in USDC.

In the announcement, Coinbase conjointly commented that USDC payments circumvent the requirement for a bank account or geographical limitations.

Coinbase has also greatly expanded its geographical support for trading similarly as its program Coinbase Earn, with the previous being out there in fifty new countries and therefore the latter in over one hundred new countries.

According to Coinbase, giving trading support in additional countries catalyzes the longer term of world-wide crypto trading, and stablecoin options may have nice impact for a few countries within the immediate future:

"For new clients in nations like Argentina and Uzbekistan, wherever customer costs are relied upon to blow up by 10–20% in 2020, stablecoins like USDC may offer an opportunity to secure against expansion."

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