USDC

USD Coin (USDC) is an ERC-20 Stablecoin. It was launched in 2018 and was created by Circle.

USDC also exists on multiple blockchains like Solana, Tron, Avalanche, Algorand, Hedera, etc.

What is USDC

USD Coin (USDC) is a fully-reserved stablecoin running on many of the world’s leading blockchains and is always redeemable 1:1 for U.S. dollars.

USDC's price is pegged to $1 USD. Its peg mechanism uses a simple 100% collateralization approach. This means that for every 1 USDC in circulation there is $1 USD held in reserve.

Features

WIDELY USED

• For businesses and individuals

OPEN SOURCE

• Build the future of finance

FULLY RESERVED

• Always redeemable 1:1 for U.S. dollars

How businesses can access USDC?

The fastest, easiest way for businesses to access and use USDC is through a free Circle Account and via a leading suite of Payments, Payouts and Accounts APIs.

Transparency & Compliance

USDC is fully backed by cash and short-dated U.S. government obligations, so that it is always redeemable 1:1 for U.S. dollars. Each month, we publish attestation reports by Grant Thornton regarding the reserve balances backing USDC. Circle is a licensed money transmitter in 46 U.S. states, plus Washington, D.C. and Puerto Rico.

Sources:

• https://www.circle.com/en/usdc
• https://defillama.com/peggedasset/usd-coin