$USDC USDC is a fiat-backed stablecoin, meaning each token is backed by one U.S. dollar or equivalent assets held in reserve. These reserves include cash and short-term U.S. Treasury securities, managed by regulated financial institutions such as The Bank of New York Mellon and overseen by asset managers like BlackRock. Circle ensures transparency by providing monthly attestations from third-party auditors, confirming that the reserves match the circulating supply of USDC$BTC $ETH