CoolBitX, the secure cryptocurrency hardware wallet manufacturer has collaborated with Circle Internet Financial, the global crypto finance company.
With the new alliance, CoolWallet S users can now store the USDC stablecoin on their hardware devices and exchange it for other digital assets seamlessly.
The Price of digital assets is very volatile and never stable, making fast, nonstop trading imperative to get cryptocurrency mass adoption.
However, exchanging cryptocurrency for fiat and vice versa has become quite a cumbersome process.
Traders have to first fund their accounts via bank wires that attract huge fees and traders also live in constant fear of getting hacked.
These issues are adversely affecting the mass adoption of cryptos and digital assets can’t go mainstream if they are not fixed.
Stablecoins, as the name implies, are digital assets that are backed by a stable asset and are never fluctuating.
USDC which is a stablecoin from the stables of Circle Internet Financial is backed 1:1 with the U.S. dollar.
CoolBitX users will be able to store their USDC stablecoin on their CoolWallet S and exchange it via the CoolBitX native app in a frictionless manner.
The CoolBitX native app is easy to use, secure and the best hardware wallet currently on the market.
The wallet comes with a 2+1 factor authentication security plus a physical confirmation button to safeguard the wallet against hacks.
Importantly, the app and card operate independently without third-party plugins.
The device’s excellent features make it ideal for storing USDC for both crypto experts and novices alike.
“USDC is more than just an incremental improvement on open and inclusive stablecoins. USDC is an exceptional improvement on asset-backed stablecoins due to its ability to scale,” said Michael Ou, founder and CEO of CoolBitX, adding “We believe that the combination of CoolWallet S and USDC will play a crucial role in minimizing digital asset exchange rate volatility at scale and maximize the ease and security of crypto exchanges.”
The official has also made it clear that the firm will list several liquid USDC trading pairs for investors interested in hedging their portfolios.
The CoolBitX team recently launched their CoolWallet S in the U.S, with a price tag of $99 and also released a co-branded wallet with the Litecoin Foundation, making it the first CoolWallet S the first hardware wallet to support ERC-20 tokens without requiring users to install third-party tools.