What is the currency

USDC$#bainacesquare is a stablecoin designed to maintain a stable value equivalent to approximately one US dollar. Its main goal is to maintain price stability, unlike most other cryptocurrencies that are known for their significant value volatility.

This stability is achieved by tying each USDC unit to an amount of US dollars held in reserves.

To ensure this required stability, each USDC coin is backed by an amount of US dollars held in financial reserves. In other words, there is real money covering the value of every USDC coin in circulation.

The value determination system of USDC operates on a completely different mechanism than the one used to determine the value of most other cryptocurrencies.

While the value of other cryptocurrencies is mainly influenced by market supply and demand forces, the value of USDC remains tied to the US dollar thanks to the cash reserve system it is managed by.