About
USD Coin (USDC) is a leading digital stablecoin that is pegged 1:1 to the United States Dollar. It was developed by the Centre Consortium, a partnership between Circle and Coinbase, with the goal of creating a "digital dollar" that is highly regulated, transparent, and secure. Unlike some of its competitors, USDC has built its reputation on strict compliance and frequent audits; its reserves (held in cash and short-term U.S. Treasuries) are attested to monthly by major accounting firms like Deloitte.
Technically, USDC began as an ERC-20 token on the Ethereum blockchain but has since evolved into a "multi-chain" asset available on Solana, Algorand, Stellar, Avalanche, and many others. This allows it to serve as the primary liquidity provider for the Decentralized Finance (DeFi) ecosystem, enabling users to earn interest, trade, and settle payments globally without the volatility typical of Bitcoin or Ethereum. Because it is issued by regulated financial institutions, it is widely considered the "institutional favorite" for businesses looking to integrate blockchain payments into traditional financial systems.
