$USDC is an alternative to other USD-backed cryptocurrencies, such as Tether (USDT) or TrueUSD (TUSD).

In short, USD Coin is a service for tokenizing the US dollar and facilitating its use on the internet and public blockchains. Additionally, USDC tokens can be exchanged back into USD at any time. The issuance and redemption of USDC tokens is ensured by the ERC-20 smart contract.

Among the most important features offered by stablecoins like USDC, bringing US dollars to the blockchain and the ability to move them anywhere in the world in a matter of minutes is by far one of the most significant, along with the high level of stability they bring to the cryptocurrency industry. USDC opens up new opportunities for trading, lending, hedging, and much more.