#USStablecoinBill USDC (USD Coin) is a popular stablecoin cryptocurrency developed by Circle, pegged to the US dollar to maintain a stable value. It's designed for global payments, offering near-instant and low-cost transactions.

*Key Features:*

- *Backed by US Dollars*: USDC is fully reserved, with assets held in a reserve for the benefit of USDC holders, and redeemable 1:1 for US dollars.

- *Regulated*: Circle, the issuer of USDC, is licensed as a Money Transmitter by the New York State Department of Financial Institutions and to engage in Virtual Currency Business Activity by the New York State Department of Financial Services.

- *Transparency*: The reserves backing USDC are publicly available with monthly third-party assurances.

*Usage:*

- *Global Payments*: USDC enables 24/7 liquidity for near-instant, low-cost global payments.

- *Available on Multiple Blockchains*: USDC operates on 19 blockchain networks, including Ethereum, Solana, and Polygon PoS.

- *Partnerships*: Companies like Visa have utilized USDC for settlement and payment purposes.

*Statistics:*

- *Circulation*: Over $62 billion USDC in circulation.

- *Reserves*: Over $62 billion USDC in reserves.

- *All-Time Volume*: $26 trillion+ in USDC on-chain activity ¹.

*Competitive Landscape:*

- *Market Dominance*: USDC competes with Tether, which dominates the market by market capitalization. However, USDC has gained traction, with its transaction volume surpassing Tether's in August 2024 #UStreasury