$USDC **USDC (USD Coin)** is a stablecoin pegged to the US dollar at a 1:1 ratio, jointly issued by Circle and Coinbase. Its main purpose is to provide a stable value digital asset, allowing cryptocurrency users to have a hedging tool in a highly volatile market. Each USDC is backed by an equivalent amount of US dollars or cash equivalents, and there are independent audit reports to ensure its transparency and reserves. This makes USDC an ideal choice for cross-border payments, digital transactions, and **DeFi (Decentralized Finance)** applications.

On the **Binance** platform, USDC is widely used:

* Trading pairs: USDC serves as the quote currency, forming trading pairs with mainstream cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), providing traders with a stable trading benchmark.

* Deposits and withdrawals: Users can easily convert fiat currency (such as US dollars) into USDC to deposit on Binance or exchange USDC back to fiat for withdrawals, enabling smooth conversion between fiat and cryptocurrency.

* Binance Pay: Through Binance Pay, users can use USDC to make purchases at over 32,000 merchants worldwide, including buying gift cards, booking travel itineraries, e-commerce, etc., enabling instant and low-cost cross-border payments.

* Financial products: Binance offers various USDC financial products, such as flexible or fixed-term staking, allowing users to earn passive income while holding stablecoins.

* Fund transfers: Due to USDC's low fees and near-instant transfer speeds, it is often used for fund transfers between Binance users or across exchanges.

Overall, USDC plays an important role on Binance, providing stable, transparent, and efficient digital asset services, greatly facilitating users' trading, payment, and financial activities in the cryptocurrency market.