Bitladon has decided to stop the trading of USDT as of October 26 and swap it for USD Coin (USDC). The USDT will be swapped to USDC in a 1:1 ratio.
Lately, there have been more about Tether's course of action. To protect our users from the potential future consequences, we have decided to swap all USDC to USDC in a 1:1 ratio. USDC is a stablecoin with a value pegged to the US Dollar. This means that the value of the wallet has not changed and there is no cost to our users.
What are the differences between USDC vs USDT?
USD Coin (USDC) is managed by CENTER, a company founded by Circle and Coinbase. CENTER has entered into several partnerships with banking institutions and auditors. There is a partnership with Signature Bank and Visa. Circle and Coinbase also comply with regulations for financial institutions.
Transparency is a top priority at CENTER. The company has appointed Grant Thornton, LLP to confirm USDC funds and its backings. The certificates are public and can be found on the website of the Center Consortium.