USDC (USD Coin) is a stablecoin jointly launched by American companies Circle and Coinbase, with its value pegged to the US dollar (USD) at a 1:1 ratio. This means that for every USDC, there is a corresponding US dollar or equivalent asset held in reserve, ensuring its stability and convertibility.
USDC is a digital currency issued on blockchain technology and currently supports multiple chains, such as Ethereum (ERC-20), Solana, Polygon, Arbitrum, etc. Its main uses include:
Stable counterpart in cryptocurrency trading
Global fast transfers and payments
Collateral and lending in DeFi applications
Cross-border remittances and asset hedging
USDC has high transparency, as the issuing company regularly publishes reserve audit reports, earning the trust of many investors and institutions.