$USDC (USD Coin) is a stablecoin pegged 1:1 to the US dollar, providing a less volatile option within the cryptocurrency market. Launched by Circle and Coinbase (now solely by Circle), USDC prioritizes transparency through regular audits of its reserves, which are held in cash and short-term US Treasury bonds in regulated US financial institutions.

Key features:

Price Stability: Aims to maintain a $1 value, making it suitable for trading pairs, remittances, and hedging against volatility.
Transparency: Regular attestations by accounting firms ensure reserves match circulating supply.
Regulatory Compliance: As a regulated stablecoin, USDC strives to adhere to financial regulations.
Wide Adoption: Available on multiple blockchains (e.g., Ethereum, Solana, Algorand) and supported by numerous exchanges and DeFi platforms.

Use cases:

Trading: Provides a stable base currency for trading other cryptocurrencies.
DeFi: Used extensively for lending, borrowing, and yield farming.
Global Payments: Facilitates faster and cheaper cross-border transfers.
Store of Value: Offers a less volatile way to hold digital assets compared to other cryptocurrencies.