$USDC a stable coin (cryptocurrency backed by a physical currency), paired with the United States dollar. It is a currency that operates on multiple blockchain networks, namely: Ethereum, Stellar, Algorand, Hedera Hashgraph, and Solana. It was announced on May 15, 2018, but officially launched only in September of the same year.
The currency is operated by a consortium called Centre, created by the companies Circle and Coinbase. Circle has received $270 million in venture capital funding from investors, including Accel Partners, Bitmain, Blockchain Capital, Breyer Capital, CICC Alpha, China Everbright Bank, Digital Currency Group, General Catalyst, IDG Capital, and Pantera. The company provides various tools ready for integration of financial services and bets on the currency as a fiat reserve.
USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and works on Ethereum, Stellar, Algorand, Solana, and Tron, as well as on the Hedera Hashgraph system. The USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and from the Bitcoin mining company called Bitmain, an investor in Circle.
