$USDC As of May 8, 2025, USD Coin (USDC) is trading at $1.00 USD, maintaining its 1:1 peg to the U.S. dollar. It boasts a market capitalization of approximately $60.96 billion and a 24-hour trading volume of about $12.78 billion .
đ What Is USDC?
USDC is a regulated stablecoin issued by Circle, designed to offer price stability by being fully backed by U.S. dollar reserves. Each USDC token is redeemable 1:1 for U.S. dollars, with reserves held in cash and short-term U.S. Treasury bonds. Monthly attestations by accounting firm Grant Thornton ensure transparency and trust in its backing .
đ Recent Developments
Circle's IPO Filing: Circle has filed for a U.S. initial public offering, aiming to list on the New York Stock Exchange under the ticker symbol âCRCL.â This move underscores the company's commitment to transparency and growth in the digital currency space .
Ripple's Acquisition Attempt: Ripple reportedly made a $4â$5 billion bid to acquire Circle, the issuer of USDC. However, Circle rejected the offer, deeming it too low, as it focuses on its IPO plans .
Expansion into Africa: Circle has partnered with Ona
