USDC

USD Coin, commonly referred to as USDC, is another US dollar-pegged stablecoin. It is a token built on the Ethereum blockchain.

What is USDC?

USDC was launched by the Centre Consortium – a collaboration between payment processor Circle and crypto exchange Coinbase.

Every USDC token is backed 1:1 with a US dollar, which is held in reserve in a mix of cash and US treasury bonds. USDC is an open-source smart contract-based stablecoin that can be integrated with several blockchains .

Unlike Tether’s USDT which has failed to produce an audit, USDC is audited and fully regulated. Monthly reports analyzing the dollar reserves are produced by Grant Thornton LLP and are publically available on the Centre Consortium and Circle’s websites.

USDC’s transparency is what makes many people feel more confident using this stablecoin over others.

There are many, many apps, wallets, DeFi service providers, and crypto exchanges that support USDC. It is easy to buy, trade, lend, and use to send money quickly all over the world.

One USDC will always be worth $1 USD, so your investment won’t lose value whether you choose to lend it out, spend it, or hold it.