$USDC

Below are the core information about the stablecoin **$USDC (USD Coin)**, summarized in approximately 100 words:

**$USDC** is a stablecoin pegged to the US dollar **1:1**, jointly launched by fintech companies **Circle and Coinbase** in 2018, aimed at providing a price-stable digital dollar for the crypto market. Its core features include:

- **100% reserve-backed**: Each USDC is fully backed by equivalent cash or short-term US Treasury bills, with reserves **audited monthly** by independent firms (e.g., Grant Thornton LLP) to ensure transparency;

- **Multi-chain compatible**: Operates on major blockchains such as Ethereum, Solana, and Polygon, supporting fast, low-cost cross-border payments and DeFi applications;

- **Mainstream adoption**: Supported by institutions like Visa for settlements, with a circulation of **$32.66 billion** as of April 2024, making it the second-largest stablecoin globally.

Main uses include trading hedging, cross-border remittances, DeFi liquidity provision, and preserving the value of dollar-denominated assets.