USD Coin (USDC) is a stablecoin pegged 1:1 to the U.S. dollar, designed to offer price stability in the volatile cryptocurrency market. Launched in 2018 by Circle and co-founded with Coinbase under the Centre consortium, USDC is fully backed by U.S. dollar-denominated assets, including cash and short-term U.S. Treasury securities. These reserves are held in segregated accounts with regulated U.S. financial institutions and are subject to monthly independent attestations by auditing firms like Deloitte .
Operating primarily on the Ethereum blockchain as an ERC-20 token, USDC is also available on other blockchains such as Solana, Algorand, and Tron, enhancing its interoperability across various decentralized applications (dApps) and crypto exchanges.
USDC serves multiple purposes: facilitating stable trading pairs on exchanges, enabling remittances and cross-border payments, and participating in decentralized finance (DeFi) activities. Its transparency and regulatory compliance make it a preferred choice for users seeking a reliable digital dollar alternative.