$USDC USDC: Issued by compliant institutions such as Circle and Coinbase, claims to be fully backed 1:1 by USD reserves, short-term government bonds, and other assets, regularly undergoes independent audits, and has relatively high transparency.
- USDT (Tether): Issued by Tether, the transparency of underlying assets was questioned in the early days (some reserve composition has been gradually disclosed in recent years), and it has been accused of 'over-issuance'.
- DAI: A decentralized stablecoin generated based on collateral on the Ethereum chain (such as collateralized ETH and other crypto assets), pegged to the US dollar, with no direct backing by real-world assets.
