$USDC USDC, or USD Coin, is a stablecoin pegged to the US dollar, ensuring a stable value. It's designed for fast, low-cost transactions and is widely used in the crypto ecosystem. Here are some key points about USDC ¹ ²:

- *Backing*: USDC is fully backed by highly liquid cash and cash-equivalent assets, such as short-term US Treasuries and overnight US Treasury repurchase agreements.

- *Issuance*: USDC is issued by Circle, a regulated financial service business, and is available on multiple blockchains, including Ethereum, Algorand, Solana, and Tron.

- *Redemption*: USDC can be redeemed 1:1 for US dollars, providing liquidity and stability.

- *Transparency*: Circle publishes monthly attestations of its reserves, ensuring transparency and trust.

- *Usage*: USDC is used for various purposes, including ¹ ² ³:

- *Trading*: As a safe-haven asset during market volatility.

- *Payments*: For fast and low-cost transactions.

- *Lending*: To earn interest on USDC holdings through lending protocols.

- *DeFi*: As a stable store of value in decentralized finance applications.

The current price of USDC in INR is ₹86.26, with a 0.4% increase in the last 24 hours. USDC's market capitalization stands at ₹5,308,018,009,288, with a circulating supply of 61,534,326,102 USDC ⁴.