$USDC USDC (USD Coin) is a cryptocurrency stablecoin that is designed to maintain a stable value by being pegged 1:1 to the United States dollar. This means that ideally, 1 USDC should always be worth 1 US dollar.

Here's a breakdown of what that means and how it works:

Key Characteristics of USDC:

* Stablecoin: Unlike volatile cryptocurrencies like Bitcoin or Ethereum, USDC aims for price stability. This makes it useful for everyday transactions, remittances, and as a safe haven during crypto market fluctuations.

* Fiat-Backed: USDC is a "fiat-backed" stablecoin, meaning its value is backed by reserve assets in the traditional financial system. In the case of USDC, these reserves primarily consist of US dollars and short-dated U.S. Treasuries, held in regulated U.S. financial institutions.

* Transparency and Regulation: USDC is issued by Circle, a regulated fintech company. Circle publishes monthly reserve attestations by a Big Four accounting firm to ensure transparency about its backing.