$USDC

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin. Here's a breakdown:

* Stablecoin:

* Stablecoins are cryptocurrencies designed to maintain a stable value, typically by pegging their value to a traditional asset like the U.S. dollar.

* USDC's Peg:

* USDC is pegged to the U.S. dollar, meaning that one USDC is intended to be worth one U.S. dollar.

* Backing:

* To maintain this peg, USDC is backed by reserves of U.S. dollar assets, such as cash and short-term U.S. Treasury bonds, held in regulated financial institutions.

* Purpose:

* USDC aims to provide a stable and reliable digital currency that can be used for various purposes, including:

* Trading on cryptocurrency exchanges.

* Making online payments.

* Transferring funds across borders.

* Providing a less volatile asset within the cryptocurrency market.

In essence, USDC seeks to offer the benefits of cryptocurrencies while minimizing the price volatility that is often associated with them.