$USDC

The USDC token is a stablecoin, meaning it is a cryptocurrency whose value is backed by fiat currency or other physical assets (such as precious metals). USD Coin is backed by U.S. dollars at a 1:1 ratio. The reserves that back the token undergo monthly audits: reports can be found on the official website.

The token has open source code and is managed by the Centre consortium. Currently, it is the second-largest stablecoin by market capitalization after Tether. Among all cryptocurrencies, USD Coin ranks sixth. Its market capitalization exceeds $26 billion. One of the main features of USDC lies in its operational principle. When purchasing the currency with fiat money, the company issues new tokens through a smart contract. When tokens are sold, the former owner receives fiat, and the sold coins are permanently "burned." This operational principle guarantees high exchange rate stability.