$USDC USDC (USD Coin) is a stablecoin, which is a type of cryptocurrency designed to maintain a stable value. In the case of USDC, it is pegged to the United States dollar on a 1:1 basis, meaning one USDC is intended to always be worth one US dollar.

Here are some key characteristics of USDC:

* Issued by Circle: USDC is issued by Circle, a regulated financial technology company.

* Backed by reserves: Every USDC in circulation is backed by a corresponding US dollar or highly liquid cash-equivalent assets (like short-term U.S. Treasury bonds) held in regulated U.S. financial institutions. These reserves are subject to regular attestations by independent accounting firms to ensure transparency and trust.