$USDC USD Coin (USDC) - 100-word Description

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin, pegged 1:1 to the US Dollar. Issued by Circle and governed by the Centre consortium (in collaboration with Coinbase), USDC aims to combine the stability of the dollar with the efficiency of blockchain technology. It operates on multiple blockchain networks like Ethereum, Solana, and Avalanche. Each USDC token is backed by an equivalent amount of USD held in reserve, subject to regular audits. It is commonly used for trading, remittances, DeFi applications, and payments. Its transparency and low volatility make it a trusted digital dollar.