USDC (USD Coin)

About

USD Coin (USDC) is a stablecoin that maintains a 1:1 value with the U.S. dollar. It was launched in 2018 by Centre, a joint venture between Circle and Coinbase. USDC is fully collateralized, meaning each token is backed by $1 in cash or cash equivalents, such as short-term U.S. Treasury bonds, held by regulated U.S. financial institutions. This collateralization ensures stability and minimal price volatility, making USDC a reliable store of value and medium for transactions. USDC operates on multiple blockchains, including Ethereum, Algorand, and Solana, facilitating rapid global payments and providing liquidity in cryptocurrency markets. It is widely used for trading, DeFi applications, and business transactions. The transparency and regulation of USDC are highlighted by regular audits and reserve reports, ensuring accountability and trust in its operations. Overall, USDC offers a stable digital alternative to traditional currencies, enhancing financial efficiency and accessibility across borders.