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24 November 2020

US Taps USDC for 'Foreign Policy' Goals in Venezuela - CoinDesk

US Taps USDC for 'Foreign Policy' Goals in Venezuela - CoinDesk


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Circle is using USDC, the dollar-pegged stablecoin it issues with Coinbase, to distribute relief funds to medical workers and other Venezuelan locals, it announced Friday. .

Peer-to-peer payments startup Airtm has been working to solve this issue, with limited results so far. .

government is working with Circle and Airtm, but said Circle had been licensed to distribute funds using USDC.

Funds flow through Circle to Airtm, which can then distribute USDC to any of its mobile digital wallet users.

By using USDC, these Venezuelans can spend in dollars, which are currently far more stable than Venezuela’s native bolivar, he said

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