USD Coin (USDC), issued by Circle, is a leading stablecoin pegged 1:1 to the U.S. dollar, ensuring price stability through reserves of cash and short-term U.S. Treasury bonds held by regulated institutions like BlackRock and The Bank of New York Mellon. Launched in 2018 by the Centre Consortium (Circle and Coinbase), USDC operates on 16 blockchains, including Ethereum and Solana, with a $60 billion market cap. It’s widely used for cross-border payments, DeFi, and hedging crypto volatility. Monthly audits by Deloitte ensure transparency, reinforcing trust. Despite a brief de-pegging in 2023 due to Silicon Valley Bank’s collapse, USDC regained stability, solidifying its role in digital finance.
