$USDC

USD Coin (USDC) is a stablecoin backed by the US dollar at a 1:1 ratio, meaning that every USDC in circulation is backed by cash reserves or equivalent assets held in US banks. It was issued by Circle in collaboration with Coinbase under the Centre Consortium framework.

Advantages of USDC

✔ Transparency: Its reserves are audited monthly by independent accounting firms such as Grant Thornton LLP.

✔ Security: Backed by funds held in regulated financial institutions in the United States.

✔ Compliance with financial systems: Compatible with banking systems, facilitating withdrawals and deposits.

✔ Use in DeFi: Widely used in decentralized finance protocols like Aave, Compound, and Uniswap.

✔ Low transfer fees and high speed: Compared to traditional bank transfers.

Main Uses of USDC

Instant financial transfers between individuals and businesses.

Hedging against cryptocurrency volatility.

Lending and borrowing on decentralized finance (DeFi) platforms.

Payment for goods and services in some stores that accept cryptocurrencies.

Networks Supporting USDC

USDC is available on several blockchain networks, such as:

Ethereum (ERC-20)

Solana (SPL)

Polygon (MATIC)

Binance Smart Chain (BEP-20)

Tron (TRC-20)