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Press release content from BusinessWire. The AP news staff was not involved in its creation.

USC: More Than Stablecoin, Targeting Payment Market

October 16, 2018

ANKARA, Turkey--(BUSINESS WIRE)--Oct 16, 2018--Stablecoin market has been dominated by USDT, but associated with long-term doubts in USDT’s reserve fund and transparency. Facing the demand of regulated stablecoin, USC (U.S. dollar coin)has joined the competition, aiming not only to tokenize fiat and transfer value on blockchain, but also to explore the grand future in blockchain payment. In this context, USC has proposed an ambitious plan in Turkish market.

USC is issued by Singapore-based company USC SG, whose investor is Goopal Group, a multinational blockchain investor and incubator founded by China Binary New Fintech Group (08255.HK). USC core team owns rich experiences in finance, payment, as well as fintech.

Compared with USDT, USC is more transparent, with easier access to be audited. Till now, the total number of USC in circulation is around 3 million, with strict ratio of 1:1 pegged to U.S. Dollars which is reserved in UOB Singapore. The reserve fund is regularly audited by professional third-party with audit report to be announced. Currently, USC is audited by BitAudit and IBATA.

Unlike other stablecoin based on single blockchain, USC has been deployed on Ethereum, Achain, and EOS, which could expand liquidity and usability to give user 24/7 exchange gateway. The core product, named USCpay, has been developed as a decentralized blockchain payment tool which is safe and user-friendly. (link: https://play.google.com/store/apps/details?id=com.goopal.usc )

Turkish market is featured by huge population, wide smart phone coverage, booming electronic payment market, therefore it plays a significant role in USC’s global strategy. As of today, USC has been listed on Sistemkoin, the biggest Turkish cryptocurrency exchange, and built up cooperation with major Turkish banks, like AK Bank, IS Bank. USC is embarking on the new fintech company registration in Turkey and will apply for payment license and electronic fiat license to legalize USC. In this regard, USC has determined to undertake a long-term and stable operation in Turkey.

Oriented as a stablecoin to bring up payment revolution, USC eyes on the globe from the first day. Currently USC has been listed on 9 exchanges in four continents, and preparing to establish branch in Turkey, East Europe, Switzerland, etc. where it shall apply for the payment license and electronic fiat license, in order to pave the way for the new generation payment tool.

USC EN website: https://www.usc.us/index-english.html

USC whitepaper: https://www.usc.us/download/USCWhitepaper_EN.pdf

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