💵 What is USDC?
USDC (USD Coin) is a stablecoin, meaning it's a type of cryptocurrency designed to maintain a stable value — pegged 1:1 to the US Dollar. This means 1 USDC ≈ 1 USD.
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🏦 Who created it?
USDC was launched by a company called Circle, in partnership with Coinbase, and governed by the Centre Consortium.
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🔐 How does it stay stable?
Every USDC in circulation is backed by real-world assets:
Cash
US Treasury bonds These reserves are held in US-regulated financial institutions and are regularly audited.
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🧠 Key Features:
💲 Price stability (1 USDC ≈ 1 USD)
🔗 Runs on blockchain (Ethereum, Solana, etc.)
🌍 Used globally for trading, payments, and DeFi
🔒 Transparent — Circle publishes regular reserve reports
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📦 Where is USDC used?
✅ Trading crypto without converting to fiat
💸 Sending money fast and cheaply
📈 Earning interest in DeFi apps
🛒 Paying for services
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🆚 USDC vs. Other Stablecoins:
Feature USDC USDT (Tether) BUSD
Backed By USD & bonds USD & assets USD & bonds
Regulation High Medium High (now phased out)
Transparency Regular audits Some reports Audited (was)