Coinbase Now Supports Another Stablecoin, MakerDAO's Dai
Major cryptocurrency platform Coinbase now supports stablecoin Dai (DAI), according to an official press release on May 23.
DAI is designed to maintain a 1:1 value with the U.S. dollar, but is backed collateral on the MKR platform. Both Ethereum-based token MKR and DAI are issued by MakerDAO.
Coinbase recently announced that its cryptocurrency payment processor, Coinbase Commerce, will now support the stablecoin USDC. The addition of this stablecoin support will reportedly allow users to receive payments without transaction fees by receiving money in USDC.
In the announcement, Coinbase also commented that USDC payments circumvent the need for a bank account or geographical limitations.