USD Coin (USDC)
USD Coin (USDC) is a digital currency pegged to the US dollar. The stablecoin allows businesses and consumers to enjoy all benefits of blockchain-based cryptocurrencies without the extreme price volatility that other leading digital assets like Bitcoin and Ethereum experience.
The USDC stablecoin, also known as a digital dollar, is pegged to the US dollar in value on a 1:1 basis. Its issue and peg are managed by global fintech firm Circle. USDC is developed as an ERC-20 token on the Ethereum blockchain.
The USD Coin is a fully-reserved stablecoin, 100% backed by cash and short-dated US treasuries. Every USDC token is redeemable for the US dollar and is a highly liquid and secure price-stable crypto asset.
The USDC is the second-most popularly used stablecoin in the crypto market after Tether (USDT). You can use the USDC to make digital transactions, purchase goods and services online, as a base current to trade cryptocurrencies against, and earn passive income through lending and staking on supported platforms.
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