$USDC

🏦 What is USDC?

A fiat-backed stablecoin pegged 1:1 to the U.S. dollar—each USDC is backed by a dollar or liquid equivalents like U.S. Treasuries held in regulated, segregated accounts .

Launched in September 2018, created by the Centre consortium (Circle + Coinbase), now fully managed by Circle .

Redeemable 24/7 for USD through Circle’s mint/burn process, audited monthly by independent firms like Deloitte and Grant Thornton .

⚙️ How it works

Transactions processed on multiple blockchains (e.g., Ethereum, Solana, Algorand, Stellar, Polygon, XRP Ledger)—widely interoperable .

Circle ensures peg stability by maintaining reserves equal to circulating USDC, publicly publishing attestations .

📈 Adoption & Market

As of June 2025, USDC is the second-largest stablecoin by market cap (~$61 billion), trailing only Tether (USDT) .

On-chain transfer volume has surpassed $25 trillion since inception, with $6 trillion transacted in Q1 2025 .

Its issuer, Circle, recently held a blockbuster IPO on the NYSE (CRCL) on June 5 2025, raising $1.1 billion and closing its first day around $83—nearly three times the IPO price .

🏛️ Regulatory landscape

June 17 2025: U.S. Senate passed the GENIUS Act, a bipartisan stablecoin regulation bill, mandating full reserve backing, monthly disclosures, and Federal oversight. It now moves to the House .

This is a pivotal step in legitimizing USDC and stablecoins for traditional financial use.

🌐 Recent updates & expandability

June 2025 saw major technical advances by Circle:

Launch of native USDC and Cross‑Chain Transfer Protocol v2 across chains like XRP Ledger & OP Mainnet, boosting liquidity & security .

Integration into Matera’s Brazilian banking systems in mid-June facilitated real-time multi-currency support (BRL, USD, USDC) .

✅ Key Use Cases

1. Stable medium of exchange with low volatility—ideal for DeFi, trading, and programmable payments.

2. Cross-border cash transfers—fast, low-cost, and operational 24/7.