$BTC USDC (USD Coin) is a stablecoin pegged to the U.S. dollar on a 1:1 basis. This means that for every USDC in circulation, there is a corresponding U.S. dollar or asset of equivalent fair value held in reserve in accounts with U.S. regulated financial institutions.

Here's a breakdown of key aspects of USDC:

What it is:

* Stablecoin: A type of cryptocurrency designed to maintain a stable value relative to a specific asset, in this case, the U.S. dollar.

* Fiat-backed: Its value is directly linked to a traditional fiat currency (USD).

* Issued by Circle: USDC was created by Circle, a regulated financial technology company. Initially, it was a collaboration between Circle and Coinbase under the Centre Consortium, but Circle is now the sole responsible entity.

* Runs on multiple blockchains: USDC is available on several blockchain networks, including Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow, Hedera, Base, and Optimism. This allows for faster and cheaper transactions across different ecosystems.