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USDC also exists on multiple blockchains like Solana, Tron, Avalanche, Algorand, Hedera, etc. | 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 | |||
[[Category:Stablecoin]] | [[Category:Stablecoin]] | ||