Cloudbet introduces second major stablecoin with USDC. USD Coin was added to the portfolio of coins available to customers by the innovative crypto sportsbook and casino, marking the operator’s second major stablecoin integration since launching USD Tether in May.
A welcome bonus worth up to 1000 USDC is available for new players who deposit USDC with Cloudbet. Using their credit cards or Apple Pay, customers can buy a coin on the web.
Cloudbet currently supports the largest coins in the stable coin universe, with a total market cap of US$ 18 billion, through the merger of USDC and USDT. Stablecoins have been implemented for crypto gaming as a workaround for players looking to secure the value of their cryptocurrency winnings from the intense price swings faced by non-stablecoin holders.
As with USDT, because USDC’s value is fixed on a 1-to-1 basis with the US dollar, the fiat value of winnings of the coin does not fluctuate along with cryptocurrency market prices. For this reason, stablecoins have been offered up as the key to convincing a more fiat-friendly audience to experience the benefits of cryptocurrency gaming.
“Since launch, a fundamental part of our philosophy has been about empowering players with technologies that solve their problems,” a Cloudbet spokesperson said. “Stablecoins are an extension of that.”
Cloudbet supports USDC on the Ethereum blockchain. The coin was introduced by the Centre Consortium, an organization co-founded by Coinbase and Circle, in part to provide a governance framework and network for the mainstream adoption of fiat-backed stablecoins.
For players looking for the best odds and highest limits for crypto betting from the comfort of their homes or on the go, the latest coin amplifies what’s on offer at Cloudbet. The operator has introduced a swathe of bold new features to target a more diverse audience, including esports, political betting, and quick transactions of credit card coins, after it re-launched its website in April.