USD Coin (USDC) is a digital currency that is referred to as a Stablecoin (a coin with fixed value). You can always exchange one USD Coin for 1 US Dollar, which makes its price stable at $1. In Coinbase, eligible customers can receive rewards for each USD Coin they hold.
USDC runs on the Ethereum blockchain as an ERC-20 token. Each USDC token is 100% legally backed by a single USD held in accounts exposed to regular public reserve reporting. The underlying technology behind the USDC was developed in collaboration between Coinbase and the Circle platform.
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