$USDC USDC, or USD Coin, is a stablecoin that's pegged to the US dollar, allowing for fast, low-cost transactions globally. Here are some key points about USDC ¹ ² ³:

- *Value*: 1 USDC is equivalent to 1 US dollar, with a current price in INR (Indian Rupee) of around ₹86.03.

- *Backing*: USDC is fully backed by highly liquid cash and cash-equivalent assets, such as short-term US Treasuries and overnight US Treasury repurchase agreements, held in reserves.

- *Usage*: USDC enables various use cases, including:

- *Sending money*: Fast and cheap transactions, ideal for peer-to-peer transfers and cross-border remittances.

- *Savings*: Provides a stable store of value, accessible to individuals with an internet connection.

- *Trading*: Used in decentralized finance (DeFi) for trading, borrowing, lending, and investing.

- *Payments*: Accepted by merchants worldwide for everyday purchases, online shopping, and enterprise payments.

- *Blockchain*: USDC operates on multiple blockchain networks, including Ethereum, Solana, Arbitrum, and Base, with cross-chain interoperability enabled by the Cross-Chain Transfer Protocol (CCTP).

- *Regulation*: USDC is issued by Circle, a regulated financial service business that complies with US laws and standards, and holds licenses in various jurisdictions.

- *Transparency*: USDC reserves undergo monthly attestations by an independent accounting firm, with daily reporting on the portfolio publicly available ² ¹.