$USDC What is USD Coin (USDC)?

USD Coin (known by its ticker USDC) is a stablecoin pegged to the US dollar at a 1:1 ratio. Each unit of this cryptocurrency in circulation is backed by $1, held in a reserve, a mix of cash and short-term US Treasury securities. The Centre consortium, responsible for this asset, claims that USDC is issued by regulated financial institutions.

The stablecoin was originally launched on a limited basis in September 2018. Simply put, the mantra of USD Coin is "digital money for a digital age" — and the stablecoin was designed for a world where cashless transactions are becoming more common.

USD Coin has demonstrated various use cases. In addition to providing a safe haven for cryptocurrency traders during times of high volatility, the proponents of the stablecoin argue that it also enables businesses to accept payments in digital assets and powers a range of sectors, including decentralized finance and gaming.

Overall, the goal is to create an ecosystem where USDC is accepted by the largest number of wallets, exchanges, service providers, and dApps.