What is USD Coin (USDC)

Learn more about USDC stablecoin.

USDC stablecoin

The USD Coin (USDC) is a US Dollar stablecoin. The Centre develops this stablecoin on the open-source fiat stable coin framework. The Centre is a consortium of Circle and Coinbase. The coin is pegged one-to-one with USD (1 USDC = 1 USD).

What is the USDC blockchain?

The USDC tokens are ERC-20 compatible. It can be used with any ERC-20 compatible digital wallet or service. Customers from around the world can tokenize US Dollars into USDC. Moreover, they can redeem USDC back into US Dollars with Circle.

Is USDC stable?

True financial interoperability requires a price-stable means of value exchange. The center’s technology for fiat-backed stablecoins brings stability to crypto. The implementation of USD Coin (USDC) created the following possibilities in payments:

  • lending
  • investing
  • trading

In addition, the USDC finance 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

Useful Links

Official Website: https://www.centre.io/usdc
Block Explorer: Etherscan

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