OVEX has added USDC (USD Coin) to its RfQ (Request for Quote) service, allowing its users to buy and sell this popular stablecoin with ease.
Now OVEX customers can buy or sell this cryptocurrency through the RfQ service.
USDC is a stablecoin, which means it is directly tethered to the price of a fiat currency – in this case, the US Dollar.
As a result, its price does not fluctuate as much as other cryptocurrencies, which makes it a more reliable holder of value compared to other coins.
It also provides more security for owners, as each USDC is backed by a real dollar, or an asset with the equivalent value, that is held in an account within a regulated US financial institution.
USDC therefore makes it easy to buy dollars and move this currency around without as much regulatory red tape as the fiat version would require.
Because it is powered by Ethereum, it is also easy to store and transfer USDC – making it an extremely convenient alternative to fiat currencies.
High interest rates
With USDC now available across two of OVEX’s primary services – RfQ (buy/sell), and interest accounts – it is a great coin to buy if you are an OVEX client.
In particular, USDC offers a high annualised interest rate of 9% in an OVEX interest account. All you need is a minimum account balance of 100 USDC to receive this great rate.
You also get access to a withdrawal notice period of just 30 days.
If you’re looking for a stablecoin that offers great interest rates and is easy to buy and sell, USDC is your best choice.
OVEX offers the deepest liquidity in the South African market, so get your USDC from them today.