Blog

Introducing Classic USD (USC)

2 min read
Ben Milne | Brale
Jared Dellitt | Brale
Chase Merlin | Brale
Michael McAllister | Brale
Cody Lambert | Brale
Introducing Classic USD (USC) | Brale Blog

We’ve partnered with EthereumClassic.com to issue Classic USD (USC), the first native fiat-backed stablecoin on Ethereum Classic.

Classic USD will support the growth of the DeFi ecosystem on Ethereum Classic as a key primitive for on-chain liquidity and global payments. Ethereum Classic is the largest and most secure Proof-of-Work smart contract network in the world, with sub $0.01 transaction fees.

USC has been issued for the benefit of the Ethereum Classic ecosystem, with shared program revenue supporting continued investment in the network. USC is fully backed by cash, cash equivalents, and short-term U.S. government bonds held in U.S. financial institutions, with reserves reported by Brale daily.

Brale is streamlining the regulated stablecoin issuance space and we are excited to work with them in developing our network's native stablecoin. The Classic USD (USC) partnership establishes Ethereum Classic's premiere regulated stablecoin. The USC digital asset is a key primitive in the Ethereum Classic DeFi product suite. Brale facilitates the issuance, redemption, and treasury management of the USC stablecoin in a licensed and regulated manner ensuring each USC token is redeemable 1:1 for U.S. dollars. This allows our team to focus on building composable DeFi protocols for the Ethereum Classic ecosystem.

Christopher Mercer
Christopher Mercer
Founder, EthereumClassic.com

Acquiring USC

USC can be acquired by directly onboarding with Brale to mint new USC, by purchasing USC on DEXs, or through OTC providers.

U.S. businesses in supported states can mint USC 1:1 with USD, USDC, or USDP directly from their Brale accounts.

Brale UI recording minting Classic USD (USC)

USC can also be purchased on ETCswap with ETC, and will be supported by additional protocols in the coming months.

ETCSwap UI showing a swap between ETC and Brale issued USC stablecoin

USC is also available via 1Konto for trading and settlement to over 60 fiat and digital currencies globally.

Building with USC

Classic USD is the premiere native stablecoin for Ethereum Classic’s decentralized finance ecosystem, global payments, and other on-chain applications:

  • Trading: As the first regulated, fiat-backed stablecoin on Ethereum Classic, USC enables on-chain settlement against ETC and other native assets on decentralized exchanges.
  • Payments: Global, real-time payments on the largest and most secure Proof-of-Work smart contract network, with sub-cent fees.
  • Collateral: USC can be employed as collateral for perpetuals/derivatives and lending protocols.

Brale + Ethereum Classic

We’re excited to work with EthereumClassic.com and the broader Ethereum Classic community to bring Classic USD to the ecosystem and expect this to be the first of many payments and DeFi applications supporting Brale-issued stablecoins on Ethereum Classic.

Get started

Create a Brale account to acquire USC

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Contributors

  • Ben Milne | Brale
    Ben Milne
    CEO
  • Jared Dellitt | Brale
    Jared Dellitt
    CTO
  • Chase Merlin | Brale
    Chase Merlin
    Sr Product Manager
  • Michael McAllister | Brale
    Michael McAllister
    Sr Software Engineer
  • Cody Lambert | Brale
    Cody Lambert
    Software Engineer