$USDC

USDC, or USD Coin, is a leading stablecoin launched in 2018 by Circle and Coinbase through the CENTRE Consortium, designed to maintain a 1:1 peg with the U.S. dollar, offering stability in the volatile crypto market. Backed by a mix of cash and short-term U.S. Treasury securities, USDC is fully collateralized, with monthly attestations from accounting firms like Grant Thornton verifying its reserves—currently supporting a circulating supply of over 28 billion coins as of early 2025. It operates primarily on the Ethereum blockchain as an ERC-20 token but has expanded to networks like Solana and Algorand, facilitating fast, low-cost transactions for DeFi, remittances, and institutional payments, with integrations like Visa partnerships boosting its adoption. At the White House Crypto Summit on March 7, 2025, discussions around regulatory clarity for stablecoins highlighted USDC’s role, as the Trump administration signaled support for such assets to strengthen the U.S.’s position in global finance, though concerns linger about centralized control and potential government oversight following Circle’s compliance with law enforcement requests, such as freezing $63 million in funds linked to the 2023 Multichain hack.