$USDC
Who Created USDC?
Launched in 2018 by Circle in partnership with Coinbase, under the Centre Consortium.
Regulated and backed by fully reserved assets (cash and short-term U.S. Treasury bonds).
As of 2024+, Circle solely manages USDC (Coinbase stepped back from co-management).
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🧾 How is USDC Backed?
USDC is backed 100% by:
🏦 Cash
📄 U.S. Treasury securities
This means every USDC in circulation is supposed to be matched by $1 in reserve. Circle publishes monthly audits to prove this.
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🌐 Where is USDC Used?
USDC runs on multiple blockchains, including:
Blockchain Token Standard
Ethereum ERC-20
Solana SPL
Polygon ERC-20 (L2)
Avalanche ARC-20
Base, Arbitrum, Optimism L2 ERC-20
Others Supported too
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⚙️ What Can You Do with USDC?
Use Case Description
Stable trading Hedge against volatility on CEXs/DEXs
DeFi participation Lend/borrow, earn interest, or provide liquidity
Cross-border payments Send USD instantly across borders with low fees
NFT purchases Buy NFTs using USDC on some marketplaces
Savings & Staking Earn yield through DeFi or CeFi platforms