$USDC USD Coin (USDC) is a cryptocurrency stablecoin pegged to the US dollar, issued by Circle. It's designed to maintain a stable value, making it a reliable store of value and medium of exchange. Here are some key facts about USDC ¹ ²:
- *Current Price*: $1.00, with a 0.01% change in the last 24 hours
- *Market Cap*: $61.05 billion
- *Backing*: Fully reserved with highly liquid cash and cash-equivalent assets, redeemable 1:1 for US dollars
- *Availability*: Native to 19 blockchain networks, including Ethereum, Solana, and Polygon, with bridged forms available on other blockchains
- *Usage*: Enables near-instant, low-cost global payments, with $26 trillion in all-time volume
- *Regulation*: Compliant with Markets in Crypto-Assets (MiCA) and licensed in various jurisdictions, including the US, EU, and Singapore
- *Auditing*: Regularly audited by Deloitte & Touche LLP, with monthly third-party assurances on reserve assets
USDC has various use cases, including ² ³:
- *Global Payments*: Enables fast and low-cost transactions across borders
- *Financial Markets*: Provides 24/7 liquidity for financial markets and institutions
- *Development*: Supports developers with APIs, SDKs, and open-source protocols for building applications
Some notable developments in USDC's history include ¹:
- *Launch*: Announced in May 2018 and launched in September 2018 by Centre, a consortium formed by Circle and Coinbase
- *Visa Support*: Visa initiated a pilot program to send USDC via Solana blockchain in March 2021
- *Centre Consortium Dissolution*: Circle and Coinbase dissolved the Centre Consortium in August 2023, granting Circle full governance over USDC
