USDC (USD Coin) is a stablecoin pegged to the US dollar at a 1:1 ratio, meaning that every 1 USDC is equivalent to 1 US dollar.

Features of USDC:

Price Stability: Ideal for transfers and payments without fluctuations.

Fully Backed: Every USDC is backed by cash or equivalent assets held in trusted US financial institutions.

Transparency: Regular audit reports are issued regarding the reserves.

Backed by Major Companies: Such as Circle and Coinbase.

Used on Multiple Networks: Such as Ethereum, Solana, Polygon, and others.

Common Uses:

Sending money across borders quickly and at a low cost

Trading and hedging against cryptocurrency volatility

Uses in DeFi and decentralized applications