$USDC USDC💰 was announced for the first time on May 15, 2018 by Circle and was launched in September 2018.

On March 29, 2021, Visa💳 announced that it would allow the use of USDC💸 for transactions on its payment network[9].

In July 2022, Circle indicated that there were 55 billion USDC💸 in circulation.

On March 11, 2023, USDC💸 lost its peg to the dollar💰 after Circle confirmed that 3.3 billion dollars💰, or about 8% of its reserves, were at risk due to the collapse of Silicon Valley Bank that occurred the day before. After falling to $0.87, USDC💸 rose back to $1 after Circle announced that the $3.3 billion held by SVB would be available.