USDC: What is it?
USD Coin (USDC) is one of the leading stablecoins or stable cryptocurrencies in the crypto market. It was created in 2018 and is currently under the direction of the Center consortium, a project made up of duly regulated organizations in the U.S. and Europe, such as Coinbase and Circle.
Its main feature is that its price is associated on a 1:1 basis with the U.S. dollar (1 USDC = 1 DOLLAR). This is achieved because it is backed by financial assets in the accounts of its creators (such as bonds, currencies, stocks, among others), so every USDC that is minted has its proper backing in an asset with an equivalent denomination of 1 dollar.
Unlike most cryptocurrencies (like bitcoin or ether), USDC always maintains the same value (≈ US$ 1), and its volatility is almost non-existent, so it can be used as a hedge during periods of high market volatility.
USDC is an ERC-20 token that operates on the Ethereum network, the second
most important blockchain currently, so the details about its
issuance and circulating capital are available for public consultation on the network.
Center, the project responsible for USDC, constantly audits the reserves of its assets. In all cases, it is confirmed that 100% of the tokens are duly backed.
The companies responsible for Center are duly regulated and authorized to operate as issuers of the stablecoin
