$USDC
Information about the US Dollar Cryptocurrency (USDC)
The US Dollar Cryptocurrency (USDC) is a stablecoin linked to the US Dollar, issued by the CENTRE consortium, which is a partnership founded by the Coinbase platform and a financial technology company called Circle. The value of the currency is tied to the US Dollar using fiat currencies and commodities at a 1:1 ratio, meaning that each USDC cryptocurrency is equivalent to 1 US Dollar.
USDC was initially issued as a token compliant with the ERC-20 standard in 2018 and has since expanded to operate on several major platforms. The year 2021 was filled with significant developments for stablecoins, during which Visa began accepting payments using USDC.
While there are many stablecoins linked to the US Dollar in the market, USDC stands out among them because it is issued by a legal entity and is recognized by the United States government as a financial service. In addition to the legality of the currency, the reserves backing USDC are subject to monthly audits by Grant Thornton, ensuring the cryptocurrency's value and liquidity.
