USD Coin (USDC) is a stablecoin pegged 1:1 to the U.S. dollar, launched in 2018 by Circle and Coinbase through the Centre Consortium. Each USDC token is backed by an equivalent amount of U.S. dollars or short-term U.S. Treasury securities held in regulated U.S. financial institutions, ensuring its value remains stable .
USDC is widely used in cryptocurrency trading, decentralized finance (DeFi), and as a medium of exchange across various blockchain networks, including Ethereum, Solana, and Algorand. It offers transparency through monthly attestations by independent auditors, providing users with confidence in its reserve backing.
