Coinbase customers in supported jurisdictions can now by, sell, send and receive the new stable coin created by Coinbase in partnership with Circle. USDC works simply by have $ as collateral for all USDC in existence but using the blockchain tech to make payments faster and cheaper and relying on the stability of the USD to remove fluctuations of crypto volatiliy. Another reason you'd want to use a stable coin over fiat when daytrading is that in some countries trades into fiat are taxable events.
USDC will use the Ethereum blockchain for transactions and since there is no mention of fees for transfers I am guessing there will be some minimal fees involved. Considering Binance recently sent over $200 m in one transaction and only paid $0.06 for it fees should be very minimal, this is something we've heard before though. Bitcoin promised minimal fees for a long time until the hype of late 2017 made transfers immensely expensive and Ethereum had to up fees as well when the blockchain was clogged with Cryptokitties.
In my opinion I don't see any of the current stable coins outperforming Steem Dollar in term of fees, but for stability I can see USDC doing rather well. If you thought the altcoin craze was insane, it seems that we're heading for a stabelcoin craze next.
Here's the video announcement of USDC from their blogpost
