USD Coin (USDC) is a type of cryptocurrency known as a stablecoin, meaning its value is pegged to the U.S. dollar at a 1:1 ratio. This ensures that 1 USDC is intended to always equal $1 USD, making it a popular choice for users who want the benefits of digital assets without the volatility of other cryptocurrencies. Launched by Circle and Coinbase through the Centre Consortium, USDC is fully backed by reserves held in U.S. bank accounts and regularly audited. It is widely used for payments, trading, and decentralized finance (DeFi) applications across various blockchain networks.
