#StripeStablecoinAccounts USDC is neither the first nor the most popular stablecoin that is pegged 1:1 to the US dollar. The leader in this segment is Tether (USDT), which is currently under scrutiny by regulatory commissions. Although they have stated that for every USDT in circulation there is one US dollar in their reserves, the Attorney General of New York has initiated an investigation, giving this case special attention. Returning to USDC, although this stablecoin is not entirely unique, the currency boasts the following characteristics:

Financial control — The parent company of USDC is registered as an MSB (Money Service Business) in the United States of America, a category that includes banks and non-bank institutions that transmit money or perform exchanges. More specifically, this subjects the firm to FinCEN regulations (the Financial Crimes Enforcement Network) that deal specifically with money laundering crimes;