WHAT IS USDC ??

USDC (USD Coin) is a type of stablecoin that is pegged 1:1 to the US dollar. It is a digital currency issued by regulated financial institutions and backed by reserves of U.S. dollars and equivalent assets, making it stable in value compared to more volatile cryptocurrencies like Bitcoin or Ethereum.

USDC is commonly used for:

Transferring Value: It enables fast, low-cost transfers between individuals and businesses without the price volatility often associated with cryptocurrencies.

DeFi (Decentralized Finance): It is widely used in decentralized applications (dApps) for lending, borrowing, and trading assets.

Trading Pair: Many exchanges use USDC as a trading pair for other cryptocurrencies.

USDC is managed by the Centre Consortium, which is a collaboration between companies like Circle and Coinbase. The reserve backing is regularly audited to ensure that the USDC in circulation is fully backed by U.S. dollars or equivalent assets.