USDC, or USD Coin, is the fastest growing, fully reserved digital dollar stablecoin. This open-source cryptocurrency has a transparent ecosystem and is fully pegged to USD. USDC rate depends on the US dollar fluctuations, not the exchange rate of other cryptocurrencies like Bitcoin.
USD Coin is a joint project of Circle (Circle Internet Financial) and Coinbase, a cryptocurrency exchange. It is developed by the joint organization Center, a membership-based consortium that sets technical, policy and financial standards for stablecoins. USDC is a stablecoin created on the Ethereum blockchain according to the ERC-20 standard. In fact, the coin is a tokenized US dollar as it is tied to the USD value.
USDС token issuance complies with banking standards, United States laws, and regulatory rules. Another important advantage over other stablecoins is partnership with tech giants like ASIC miner manufacturer Bitmain, investment bank Goldman Sachs Group, search engine Baidu and venture capital market leader IDG Capital. Learn more about USDC.
What are the benefits of USDC?
Native ERC20 USDC is exclusively minted and used on the Ethereum blockchain. As a result, anyone can monitor transactions.
USDC is the second most liquid stablecoin behind USDT and is traded on most major exchanges.
Monthly audit conducted regularly by accounting firm Grant Thornton to ensure USDC is backed 1: 1 by US dollars in bank accounts. Circle, Ltd. publishes these reports frequently.
Circle, Ltd. is fully regulated and licensed by NYDFS (New York State Department of Financial Services) to conduct business in the United States. NYDFS is the country's strictest financial regulator.