USD Coin (USDC) is a fully collateralized stablecoin pegged 1:1 to the US dollar. It is issued by Circle, a regulated fintech company, and was co-founded with Coinbase under the Centre consortium. USDC is designed to maintain price stability, making it a popular choice for trading, payments, and decentralized finance (DeFi) applications.

๐Ÿ” Key Features of USDC

Price Stability: USDC maintains a value close to $1.00 USD, with minimal fluctuations.

Market Capitalization: As of now, USDC has a market cap of approximately $61.5 billion USD.

Circulating Supply: There are about 61.5 billion USDC tokens in circulation.

Blockchain Compatibility: USDC operates on multiple blockchains, including Ethereum (ERC-20), Solana, Algorand, and others.

Reserve Backing: Each USDC token is backed by U.S. dollars or equivalent assets held in regulated financial institutions.

๐Ÿ“ฐ Recent Developments

Circle's IPO Plans: Circle has filed documents to list its stock on the New York Stock Exchange (NYSE), indicating a move towards greater transparency and public investment.

Market Position: USDC continues to be one of the top stablecoins by market capitalization, second only to Tether (USDT).

If you have specific questions about USDC or need more detailed information, feel free to ask!