USD Coin (USDC) is a fully collateralized stablecoin pegged 1:1 to the U.S. dollar, ensuring price stability through reserves backed by cash and short-duration U.S. Treasury instruments. These reserves are held by regulated financial institutions like The Bank of New York Mellon and managed by BlackRock via the Circle Reserve Fund .CoinDesk

As of May 16, 2025, USDC is trading at approximately $0.9999 USD, maintaining its peg with minimal volatility. The stablecoin has a circulating supply of over 60.86 billion USDC, positioning it as the second-largest stablecoin by market capitalization .