$USDC

USDC (USD Coin) is a prominent stablecoin in the cryptocurrency market. Here's a comprehensive look at what it is, how it works, its uses, and associated risks:

What is USDC?

* Digital US Dollar: USDC is a digital currency designed to maintain a stable value, pegged 1:1 to the US dollar. This means that, in principle, 1 USDC should always be worth $1 USD.

* Fiat-backed: Unlike volatile cryptocurrencies like Bitcoin or Ethereum, USDC is backed by real-world assets. For every USDC token in circulation, there's an equivalent amount of US dollars or highly liquid US dollar-denominated assets (like short-term US Treasury bonds) held in reserve.