$USDC USDC (USD Coin) What is it?

USDC is the abbreviation for USD Coin and is a stablecoin that is backed 1:1 by the US dollar. This means that each 1 USDC is supported by 1 US dollar in reserves. This ensures that the price of USDC remains stable and is protected against large fluctuations.

Key Features:

• Reserve Support: USDC is fully backed by assets such as cash and US Treasury bonds.

• Regulatory Compliance: USDC, developed by Circle and Coinbase, operates in compliance with financial regulators in the United States.

• Blockchain Support: It works on multiple blockchain networks including Ethereum (ERC-20), Solana, Avalanche, Algorand, Polygon, and TRON.

• Use Cases: It is widely used in crypto trading, payment systems, decentralized finance (DeFi), and international transfers.

USDC is particularly preferred as a reliable and transparent stablecoin alternative and is regularly audited.