USD Coin (USDC) is a fully collateralized US Dollar stablecoin based on the open source fiat stable coin framework developed by Centre, a consortium founded by Circle and Coinbase. It;s designed to be pegged one-to-one with USD (1 USDC = 1 USD).
USDC tokens are ERC-20 compatible and can be used with any ERC-20 compatible digital wallet or service. Customers from around the world can tokenize US Dollars into USDC and redeem USDC back into US Dollars with Circle.
True financial interoperability requires a price stable means of value exchange. CENTRE’s technology for fiat-backed stablecoins brings stability to crypto. The initial implementation is USD Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added.
Moreover, USDC has top five accounting services firm Grant Thornton LLP issue attestations each month on the US dollar reserves that back the USDC tokens in circulation
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