$USDC USDC, or USD Coin, is a stablecoin cryptocurrency developed by Circle and launched in September 2018. It's pegged to the US dollar, maintaining a stable value through reserves of US dollars or highly liquid cash and cash-equivalent assets.
*Key Features:*
- *Stable Value*: USDC is designed to maintain a 1:1 ratio with the US dollar, making it a reliable store of value and medium of exchange.
- *Blockchain Support*: USDC operates on multiple blockchain networks, including Ethereum, Algorand, Arbitrum, Avalanche, Base, Celo, Hedera, Linea, NEAR, Noble, OP Mainnet, Polkadot, Polygon PoS, Solana, Stellar, Sui, Unichain, World Chain, XRP Ledger, and ZKsync.
- *Transparency and Auditing*: Circle, the issuer of USDC, publishes regular independent audit reports to ensure the integrity of its reserves. Deloitte, a leading auditing firm, conducts these audits.
- *Usage*: USDC is used for various purposes, including payments, settlements, and decentralized finance (DeFi) applications. Visa has even initiated a pilot program to send USDC via the Solana blockchain.¹ ²
*Market Information:*
- *Market Capitalization*: USDC has a market capitalization of $61.57 billion.
- *Current Price*: The current price of USDC is $1.00, with a negligible price change of -0.01%.
- *Circulation*: There are $60.94 billion USDC in circulation, backed by an equivalent value of US dollar-denominated assets held in reserve.³
*Benefits:*
- *Low Volatility*: USDC's stable value makes it an attractive option for users seeking to minimize risk.
- *Global Accessibility*: USDC enables near-instant, low-cost global payments and settlements.
- *Regulatory Compliance*: Circle is licensed and regulated by various financial authorities, ensuring USDC's compliance with relevant laws and regulations.
