$USDC

What is USDC and what is it used for?

USD Coin (USDC) is a digital currency fully backed by assets in US dollars. USDC is a tokenized US dollar, with the value of one USDC coin set as close as possible to the value of one US dollar. The value of USDC is designed to remain stable, making USDC a stablecoin.

You may be wondering how USDC maintains a 1:1 peg to the US dollar. If you initiate a transaction to buy a US dollar coin using fiat currency, that fiat currency is deposited and stored as a US dollar, and the new USDC is minted. If you sell a US dollar coin in exchange for fiat currency, the USDC is burned (sent to a wallet without access keys) when the fiat money is transferred back to your bank account.

USDC is compatible with several blockchains, including:

Ethereum

Algorand

Solana

Stellar

TRON

USD Coin is managed by Centre, a consortium co-founded by the cryptocurrency exchange Coinbase (COIN) and Circle, a financial technology company. Centre aims to change the global financial landscape by connecting every person, merchant, financial service, and currency around the world.

Stay tuned for more ❤️❤️