What is USD Coin (USDC)?
USDC is a popular stablecoin that is pegged to the US dollar.
About USD Coin (USDC)
USDC (USD Coin) is a fully collateralized stablecoin that is backed by a mix of cash and short-duration U.S. Treasury securities. It was launched in 2018 by Centre, a consortium that includes Circle and Coinbase.
As one of the world’s most popular stablecoins, USDC has a wide range of use cases, including:
- Payments and remittances: USDC can be used to send and receive money quickly and efficiently, both domestically and internationally.
- Trading and investing: USDC is a popular trading pair on many cryptocurrency exchanges, making it easy to buy, sell, and trade other cryptocurrencies.
- DeFi applications: USDC is used in a variety of decentralized finance (DeFi) applications, such as lending, borrowing, and yield farming.
How USDC Works
USDC is pegged 1:1 to the US dollar, meaning that one USDC is always worth one US dollar. This peg is maintained through a rigorous process of collateralization and audits. Centre regularly publishes reports on USDC’s reserves, ensuring transparency and accountability.
USDC can be used on a variety of blockchains, including Ethereum, Algorand, Solana, and Polygon.
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