USD Coin (USDC) is a digital currency fully backed by US dollar assets. USDC is a tokenized U.S. dollar, with the value of one USDC token being as close as possible to the value of one U.S. dollar. The value of USDC is designed to remain stable, making USDC a stablecoin. Stablecoins are typically backed by reserve assets such as the U.S. dollar or euro to achieve price stability. USDC’s price stability stands in stark contrast to the price volatility of other cryptocurrencies such as Bitcoin and Ethereum.
USDC is compatible with multiple blockchains including:
USD Coin is managed by Center, a consortium of cryptocurrency exchange Coinbase (COIN ) and financial technology company Circle. The partnership was dissolved and Circle became the sole liable party. 4 The company aims to change the global financial landscape by connecting every person, merchant, financial service and currency around the world.
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