$USDC

that coin (USDC) is a prominent stablecoin, a type of cryptocurrency designed to maintain a stable value. Each USDC is pegged 1:1 to the U.S. dollar, meaning its value is intended to remain equivalent to one U.S. dollar. It was launched in 2018 by Centre, a consortium co-founded by Circle and Coinbase, though Circle is now the sole issuer.

USDC is backed by reserves of U.S. dollar-denominated assets, such as cash and short-term U.S. Treasury securities, held in segregated accounts with regulated U.S. financial institutions. This backing aims to ensure transparency and redeemability. USDC facilitates fast, global transactions and is widely used in the decentralized finance (DeFi) ecosystem for trading, lending, and as a stable store of value, bridging traditional finance with the digital asset space.