USDC, or USD Coin, is a stablecoin that's gaining traction in the crypto world. Recently, Coinbase CEO Brian Armstrong called it "the most trusted stablecoin" after Circle, the company behind USDC, went public on the New York Stock Exchange (NYSE) under the ticker symbol "CRCL". Here are some key points about USDC ¹ ²:

- *Backed by US Dollars*: Every USDC is backed by a US dollar or cash equivalent asset held in reserves, providing stability and trust.

- *Regulated*: Circle, the issuer of USDC, is a regulated financial service business that follows strict US laws and standards.

- *Transparency*: The reserves are publicly visible, and assurances are issued monthly by a Big Four accounting firm.

- *Growing Adoption*: USDC has reached ~$30 trillion in lifetime volume and is supported by major companies like Visa, enabling its use for transactions within its payment network.

- *Competition*: USDC is competing with Tether's USDT, with Coinbase previously planning to delist USDT due to non-compliance with the Market in Crypto Asset (MiCA) regulation.

Circle's IPO reflects its growth, expansion, and compliance with global regulations, positioning USDC as a strong player in the stablecoin market ³.$USDC