$USDC Is it stable?

What is it?

USDC is a stablecoin, meaning it is a cryptocurrency designed to maintain a stable value. It is pegged to the US dollar at a 1:1 ratio, which means that 1 USDC is equivalent to 1 USD.

Who created it?

It was launched in 2018 by the Centre Consortium, an alliance between the companies Circle and Coinbase, two giants in the financial and crypto sectors.

How does it work?

Each USDC is backed by cash reserves or equivalent assets, and its issuance is regulated and regularly audited to ensure transparency. It can be used on multiple blockchain networks such as Ethereum, Solana, Algorand, and more.

Why is it important?

USDC is the second largest stablecoin in the market, only behind USDT. Its stability makes it ideal for payments, international transfers, and as a safe haven against the volatility of other cryptocurrencies.

Recent news:

USDC was recently launched on the XRP Ledger network, enabling faster and cheaper transfers between decentralized exchanges.