USD Coin (USDC)
USD Coin (USDC) is a digital asset that is pegged to the US dollar. It is a stablecoin, meaning that its value is designed to remain stable and not fluctuate in the same way that other cryptocurrencies do. USDC is a cryptocurrency that is issued by regulated and licensed financial institutions, and is backed by fully reserved assets. This means that for every USDC in circulation, there is a corresponding US dollar held in reserve.
History of USDC
USDC was created in 2018 by the Centre Consortium, a joint venture between Circle and Coinbase. The goal of USDC was to create a stablecoin that could be used for payments, trading, and other financial services. USDC is built on the Ethereum blockchain and is an ERC-20 token. It is designed to be used as a medium of exchange, and is accepted by many exchanges and wallets.
USDC is designed to be a bridge between traditional finance and the world of cryptocurrency. It is intended to make it easier for people to use cryptocurrency for payments and other financial services. USDC is also designed to be a more secure and reliable form of money than other cryptocurrencies, as it is backed by fully reserved assets.
Comparison Table
| Currency | Volatility | Backed by |
|---|---|---|
| USDC | Low | Fully reserved assets |
| Bitcoin | High | Decentralized network |
Summary
USDC is a digital asset that is pegged to the US dollar. It is a stablecoin, meaning that its value is designed to remain stable and not fluctuate in the same way that other cryptocurrencies do. USDC is issued by regulated and licensed financial institutions, and is backed by fully reserved assets. It is designed to be used as a medium of exchange, and is accepted by many exchanges and wallets. For more information about USDC, you can visit the official website of the Centre Consortium or Coinbase.
See Also
- Stablecoin
- Ethereum
- Cryptocurrency
- Blockchain
- Bitcoin
- Decentralized Network
- Circle
- Coinbase
- Fiat Currency
- Digital Asset
