Difference between revisions of "USDC"
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USD Coin (USDC) is an ERC-20 Stablecoin. It was launched in 2018 and was created by Circle. | USD Coin (USDC) is an ERC-20 Stablecoin. It was launched in 2018 and was created by Circle. | ||
USDC | USDC exists on Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow and Hedera with more native integrations planned. <ref>https://www.circle.com/en/usdc</ref> | ||
Bridged USDC exists on Polygon, Fantom, NEAR, Arbitrum, the Cosmos Ecosystem, and many more emerging blockchains. | |||
== What is USDC == | == 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. | 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 | USDC's price aims to be 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 === | === Features === | ||
* Always redeemable 1:1 for U.S. dollars through Circle. | |||
* Global onboarding and offboarding at thousands of MoneyGram locations worldwide through a partnership with MoneyGram and Stellar. <ref>https://cointelegraph.com/news/moneygram-s-usdc-transfer-service-launches-in-several-countries</ref> | |||
* Native cross chain bridging through burning and minting is coming in early 2023. <ref>https://www.circle.com/en/pressroom/circle-enables-usdc-interoperability-for-developers-with-the-launch-of-cross-chain-transfer-protocol</ref> | |||
* Always redeemable 1:1 for U.S. dollars | |||
=== How businesses | === How can businesses 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. | 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. USDC is also available for trading on most CEXes and DEXes. | ||
=== Transparency & Compliance === | === Transparency & Compliance === | ||
USDC is fully backed by | USDC is fully backed U.S. dollar denominated assets kept in custody by U.S. financial institutions, so that it is always redeemable 1:1 for U.S. dollars. Each month, Circle publishes attestation reports by Grant Thornton regarding the reserve balances backing USDC. <ref>https://www.circle.com/blog/how-to-be-stable-usdc-transparency-and-trust</ref> | ||
== Sources: == | == Sources: == | ||
Latest revision as of 22:22, 8 October 2022
USD Coin (USDC) is an ERC-20 Stablecoin. It was launched in 2018 and was created by Circle.
USDC exists on Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow and Hedera with more native integrations planned. [1]
Bridged USDC exists on Polygon, Fantom, NEAR, Arbitrum, the Cosmos Ecosystem, and many more emerging blockchains.
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 aims to be 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
- Always redeemable 1:1 for U.S. dollars through Circle.
- Global onboarding and offboarding at thousands of MoneyGram locations worldwide through a partnership with MoneyGram and Stellar. [2]
- Native cross chain bridging through burning and minting is coming in early 2023. [3]
How can businesses 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. USDC is also available for trading on most CEXes and DEXes.
Transparency & Compliance
USDC is fully backed U.S. dollar denominated assets kept in custody by U.S. financial institutions, so that it is always redeemable 1:1 for U.S. dollars. Each month, Circle publishes attestation reports by Grant Thornton regarding the reserve balances backing USDC. [4]
Sources:
- ↑ https://www.circle.com/en/usdc
- ↑ https://cointelegraph.com/news/moneygram-s-usdc-transfer-service-launches-in-several-countries
- ↑ https://www.circle.com/en/pressroom/circle-enables-usdc-interoperability-for-developers-with-the-launch-of-cross-chain-transfer-protocol
- ↑ https://www.circle.com/blog/how-to-be-stable-usdc-transparency-and-trust