#中心化与去中心化交易所 USDC and other mainstream stablecoins (such as USDT, DAI, etc.) have core differences mainly reflected in the following aspects:

1. Issuing entities and backing methods

- USDC: Issued by compliant institutions such as Circle and Coinbase, claiming to be fully backed 1:1 by USD reserves, short-term government bonds, and other assets, regularly undergoes independent audits, and has high transparency.

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- USDT (Tether): Issued by Tether, the transparency of backing assets was questionable in the early days (some reserve composition has been gradually disclosed in recent years), and it has been accused of "over-issuing."

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- DAI: A decentralized stablecoin generated based on collateral on the Ethereum chain (such as collateralized ETH and other crypto assets), pegged to the USD, without direct backing from real assets.