$USDC USDC is a compliant stablecoin launched jointly by Circle and Coinbase, pegged to the US dollar at a 1:1 ratio. It is issued via smart contracts on blockchains such as Ethereum and is supported by equivalent dollar reserves for each token [1,2](@ref). Its core advantages lie in **compliance and transparency** (regulated by the US FinCEN, with monthly audit reports) and **multi-chain compatibility** (supporting Ethereum, Solana, and more than 18 public chains), making it a mainstream medium for DeFi lending, cross-border payments, and cryptocurrency trading [2,5](@ref). As of June 2025, USDC's market capitalization exceeds $62 billion, accounting for 28% of the stablecoin market, with liquidity covering over 100 exchanges [1,6](@ref). Compared to USDT, USDC adopts a government bond + cash reserve model, with a lower redemption threshold (no large amount restrictions), and is more recognized for its safety by institutions [1,3](@ref). The current price remains stable in the range of 0.999-1.001, influenced in the short term by US dollar liquidity and regulatory policies, while long-term attention should be paid to Circle's compliance evolution after its IPO.