Founded in 2018, the CENTRE consortium, a is partnership between Circle and Coinbase created to develop price-stable crypto assets and network protocols. CENTRE consists of price-stable crypto assets, network protocols, and business rules which were implemented in early form over the past several years by Circle, where the existing technology supports significant active daily transaction volume. CENTRE plans to create a network scheme to manage the creation, redemption, and flow of these assets under a new organization independent and separate from Circle

USD Coin (USDC) is a cryptocurrency and operates on the Ethereum platform. USD Coin has a current supply of 53,542,347,636.55828. The last known price of USD Coin is 0.99985399 USD and is down -0.02 over the last 24 hours. It is currently trading on 3145 active market(s) with $5,458,918,990.38 traded over the last 24 hours. More information can be found at https://www.centre.io/usdc.

USD Coin

<h2>Investor</h2>
<p><img src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/image1655893502230.image" /></p>

Community and Backers

<div class="sc-16r8icm-0 kjciSH contentClosed hasShadow">
 <div>
  <div>
   <div class="sc-2qtjgt-0 eApVPN">
    <div>
     <h2 id="what-is-usd-coin-usdc">
      What Is USD Coin (USDC)?
     </h2>
     <p>
      USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.
     </p>
     <p>
      The stablecoin originally launched on a limited basis in September 2018. Put simply, USD Coin’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.
     </p>
     <p>
      Several use cases have been unveiled for the USD Coin. As well as providing a safe haven for crypto traders in times of volatility, those behind the stablecoin say it can also allow businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming.
     </p>
     <p>
      Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.
     </p>
     <h2 id="who-are-the-founders-of-usd-coin">
      Who Are the Founders of USD Coin?
     </h2>
     <hr/>
     <p>
      The Centre Consortium has two founding members. One of them is the peer-to-peer payment services company Circle, while the other is the Coinbase cryptocurrency exchange. Other crypto ventures are open to join this consortium.
     </p>
     <p>
      Explaining the rationale behind USDC, Circle co-founders Jeremy Allaire and Sean Neville wrote: “We believe that an open internet of value exchange can transform and integrate the world more deeply, eventually eliminating artificial economic borders and enabling a more efficient and inclusive global marketplace that connects every person on the planet.”
     </p>
     <p>
      In 2020, Circle and Coinbase collectively announced a major upgrade to USDC’s protocol and smart contract. The goal of these enhancements is to make it easier for USD Coin to be used for everyday payments, commerce and peer-to-peer transactions.
     </p>
     <h3 id="what-makes-usd-coin-usdc-unique">
      What Makes USD Coin (USDC) Unique?
     </h3>
     <hr/>
     <p>
      The stablecoin market has become exceedingly crowded over recent years — but USD Coin has aimed to stand head and shoulders over competitors in several ways.
     </p>
     <p>
      One of them concerns transparency — and giving users the assurance that they will be able to withdraw 1 USDC and receive $1 in return without any issues. To this end, it says a major accounting firm is tasked with verifying the levels of cash that are held in reserve, and ensuring this matches up with the number of tokens in circulation.
     </p>
     <p>
      Unlike some crypto ventures, Circle and Coinbase have also achieved regulatory compliance — and this has helped pave the way for international expansion. Both projects are also well-funded, giving the stablecoin certainty.
     </p>
     <p>
      <a href="#">
       Coinbase
      </a>
      briefly contemplated
      <a href="#">
       diversifying the funds backing USDC
      </a>
      , but retracted that proposal after heavy community backlash. The transparency over the provenance of its funds has been a big reason for USDC's success. Unlike its rival
      <a href="#">
       USDT
      </a>
      , which has found itself embroiled in repeated
      <a href="#">
       investigations
      </a>
      , USDC has never been accused of any wrongdoing. That has led to USDC gobbling up much of USDT's dominance in the
      <a href="#">
       stablecoin
      </a>
      market: although USDT commanded a 74%:16% lead in market share in February 2021, this has shrunk to a 45%:30% lead in February 2022.
     </p>
     <p>
      <strong>
       Related Pages
      </strong>
      :
     </p>
     <p>
      <a href="#">
       What is a stablecoin?
      </a>
     </p>
     <p>
      <a href="#">
       Find out about USDT, one of USDC’s biggest competitors
      </a>
     </p>
     <p>
      <a href="#">
       Detailed definitions for stablecoins in the CoinMarketCap glossary
      </a>
     </p>
     <p>
      <a href="#">
       CoinMarketCap Blog: Insightful analysis and features
      </a>
     </p>
     <h3 id="how-many-usd-coins-usdc-are-there-in-circulation">
      How Many USD Coins (USDC) Are There in Circulation?
     </h3>
     <hr/>
     <p>
      It’s a bit difficult to give an exact number here — as in theory, the number of USDC that can exist is limitless. New coins are created in line with demand, whenever someone wants to purchase one with their humble dollar.
     </p>
     <p>
      That said, there have been factors that have helped USD Coin enjoy an explosion in popularity over the years — especially in 2020. One of them is the sudden, sharp rise in the popularity of decentralized finance. USDC is a common sight on many
      <a href="#">
       DeFi
      </a>
      protocols given how it serves as an onramp to the wider ecosystem.
     </p>
     <h3 id="how-is-the-usd-coin-network-secured">
      How Is the USD Coin Network Secured?
     </h3>
     <hr/>
     <p>
      All of the USDCs in circulation are actually ERC-20 tokens, which can be found on the Ethereum blockchain. One of the biggest advantages here is how it can then be integrated with Ethereum-based applications. As we mentioned earlier, security and confidence in this stablecoin is delivered by proving that U.S. dollars are being held safely in reserve.
     </p>
     <h3 id="where-can-you-buy-usd-coin-usdc">
      Where Can You Buy USD Coin (USDC)?
     </h3>
     <hr/>
     <p>
      As you might expect, one of the most enthusiastic exchanges that offers USDC is Coinbase, given how the exchange was involved in this stablecoin’s creation. USD Coin can also be purchased and traded on Poloniex, Binance, OKEx and Bitfinex, as well as decentralized exchanges such as Uniswap.
     </p>
     <p>
      USDC is commonly bought with Bitcoin — and if it’s your first time buying Bitcoin, be sure to check out our comprehensive guide
      <a href="#">
       here
      </a>
      .
     </p>
    </div>
   </div>
  </div>
  <div class="sc-101ku0o-2 exKUGw">
   <p>
    Our most recent articles about
    
    USD Coin
    
    :
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      Investing in Stablecoins: The New-Age Inflation Hedge
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 </div>
</div>

description

<div class="sc-16r8icm-0 kjciSH contentClosed hasShadow">
 <div>
  <div>
   <div class="sc-2qtjgt-0 eApVPN">
    <div>
     <h2 id="what-is-usd-coin-usdc">
      What Is USD Coin (USDC)?
     </h2>
     <p>
      USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.
     </p>
     <p>
      The stablecoin originally launched on a limited basis in September 2018. Put simply, USD Coin’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.
     </p>
     <p>
      Several use cases have been unveiled for the USD Coin. As well as providing a safe haven for crypto traders in times of volatility, those behind the stablecoin say it can also allow businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming.
     </p>
     <p>
      Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.
     </p>
     <h2 id="who-are-the-founders-of-usd-coin">
      Who Are the Founders of USD Coin?
     </h2>
     <hr/>
     <p>
      The Centre Consortium has two founding members. One of them is the peer-to-peer payment services company Circle, while the other is the Coinbase cryptocurrency exchange. Other crypto ventures are open to join this consortium.
     </p>
     <p>
      Explaining the rationale behind USDC, Circle co-founders Jeremy Allaire and Sean Neville wrote: “We believe that an open internet of value exchange can transform and integrate the world more deeply, eventually eliminating artificial economic borders and enabling a more efficient and inclusive global marketplace that connects every person on the planet.”
     </p>
     <p>
      In 2020, Circle and Coinbase collectively announced a major upgrade to USDC’s protocol and smart contract. The goal of these enhancements is to make it easier for USD Coin to be used for everyday payments, commerce and peer-to-peer transactions.
     </p>
     <h3 id="what-makes-usd-coin-usdc-unique">
      What Makes USD Coin (USDC) Unique?
     </h3>
     <hr/>
     <p>
      The stablecoin market has become exceedingly crowded over recent years — but USD Coin has aimed to stand head and shoulders over competitors in several ways.
     </p>
     <p>
      One of them concerns transparency — and giving users the assurance that they will be able to withdraw 1 USDC and receive $1 in return without any issues. To this end, it says a major accounting firm is tasked with verifying the levels of cash that are held in reserve, and ensuring this matches up with the number of tokens in circulation.
     </p>
     <p>
      Unlike some crypto ventures, Circle and Coinbase have also achieved regulatory compliance — and this has helped pave the way for international expansion. Both projects are also well-funded, giving the stablecoin certainty.
     </p>
     <p>
      <a href="#">
       Coinbase
      </a>
      briefly contemplated
      <a href="#">
       diversifying the funds backing USDC
      </a>
      , but retracted that proposal after heavy community backlash. The transparency over the provenance of its funds has been a big reason for USDC's success. Unlike its rival
      <a href="#">
       USDT
      </a>
      , which has found itself embroiled in repeated
      <a href="#">
       investigations
      </a>
      , USDC has never been accused of any wrongdoing. That has led to USDC gobbling up much of USDT's dominance in the
      <a href="#">
       stablecoin
      </a>
      market: although USDT commanded a 74%:16% lead in market share in February 2021, this has shrunk to a 45%:30% lead in February 2022.
     </p>
     <p>
      <strong>
       Related Pages
      </strong>
      :
     </p>
     <p>
      <a href="#">
       What is a stablecoin?
      </a>
     </p>
     <p>
      <a href="#">
       Find out about USDT, one of USDC’s biggest competitors
      </a>
     </p>
     <p>
      <a href="#">
       Detailed definitions for stablecoins in the CoinMarketCap glossary
      </a>
     </p>
     <p>
      <a href="#">
       CoinMarketCap Blog: Insightful analysis and features
      </a>
     </p>
     <h3 id="how-many-usd-coins-usdc-are-there-in-circulation">
      How Many USD Coins (USDC) Are There in Circulation?
     </h3>
     <hr/>
     <p>
      It’s a bit difficult to give an exact number here — as in theory, the number of USDC that can exist is limitless. New coins are created in line with demand, whenever someone wants to purchase one with their humble dollar.
     </p>
     <p>
      That said, there have been factors that have helped USD Coin enjoy an explosion in popularity over the years — especially in 2020. One of them is the sudden, sharp rise in the popularity of decentralized finance. USDC is a common sight on many
      <a href="#">
       DeFi
      </a>
      protocols given how it serves as an onramp to the wider ecosystem.
     </p>
     <h3 id="how-is-the-usd-coin-network-secured">
      How Is the USD Coin Network Secured?
     </h3>
     <hr/>
     <p>
      All of the USDCs in circulation are actually ERC-20 tokens, which can be found on the Ethereum blockchain. One of the biggest advantages here is how it can then be integrated with Ethereum-based applications. As we mentioned earlier, security and confidence in this stablecoin is delivered by proving that U.S. dollars are being held safely in reserve.
     </p>
     <h3 id="where-can-you-buy-usd-coin-usdc">
      Where Can You Buy USD Coin (USDC)?
     </h3>
     <hr/>
     <p>
      As you might expect, one of the most enthusiastic exchanges that offers USDC is Coinbase, given how the exchange was involved in this stablecoin’s creation. USD Coin can also be purchased and traded on Poloniex, Binance, OKEx and Bitfinex, as well as decentralized exchanges such as Uniswap.
     </p>
     <p>
      USDC is commonly bought with Bitcoin — and if it’s your first time buying Bitcoin, be sure to check out our comprehensive guide
      <a href="#">
       here
      </a>
      .
     </p>
    </div>
   </div>
  </div>
 </div>
</div>

<h1 id="what-is-usdc"><span id="What_is_USDC" class="ez-toc-section">What is USDC?</span></h1>
<p class="has-normal-font-size"><strong>USD Coin (USDC)</strong>&nbsp;is a digital currency that is referred to as a Stablecoin (a coin with fixed value). You can always exchange one&nbsp;<strong>USD Coin</strong>&nbsp;for 1 US Dollar, which makes its price stable at $1. In Coinbase, eligible customers can receive rewards for each&nbsp;<strong>USD Coin</strong>&nbsp;they hold.</p>
<ul class="has-normal-font-size">
<li>Stable value: For customers with a US Dollar bank account, 1&nbsp;<strong>USDC</strong>&nbsp;can always be exchanged for 1 US Dollar, giving it some price stability.</li>
<li>Backed by US dollars: Each&nbsp;<strong>USDC</strong>&nbsp;has a certified US dollar behind it, which is kept in the bank.</li>
<li>Powered by Ethereum:&nbsp;<strong>USD Coin</strong>&nbsp;is a token on the Ethereum platform, so you can store it in a suitable wallet like the Coinbase wallet.</li>
<li>Global transactions:&nbsp;<strong>USC Coin</strong>&nbsp;is designed to help Dollars circulate globally from your crypto wallet to exchanges, businesses or other users.</li>
<li>Above is an introduction to what&nbsp;<strong>USDC</strong>&nbsp;is &ndash; A stable coin created by Coinbase.</li>
</ul>
<p class="has-normal-font-size"><strong>USDC</strong>&nbsp;runs on the Ethereum blockchain as an&nbsp;<strong>ERC-20 token</strong>. Each&nbsp;<strong>USDC</strong>&nbsp;token is 100% legally backed by a single&nbsp;<strong>USD</strong>&nbsp;held in accounts exposed to regular public reserve reporting. The underlying technology behind the&nbsp;<strong>USDC</strong>&nbsp;was developed in collaboration between Coinbase and the Circle platform.</p>
<h1 class="MuiBox-root jss7173">Technology</h1>
<div class="MuiBox-root jss7174">
<div class="MuiBox-root jss7215 jss7177">
<p class="MuiTypography-root jss7176 MuiTypography-body2 MuiTypography-paragraph">USD Coin is the first implementation of CENTRE's fiat-back stablecoin network, launched as an ERC-20 compliant token on Ethereum. USDC relies on a proof-of-reserves system to ensure that reserve assets match circulating tokens.</p>
<p class="MuiTypography-root jss7176 MuiTypography-body2 MuiTypography-paragraph">CENTRE contracts manage the minting and the redemption/burning of stablecoins, which can be used for both the exchange and wallet interoperability use cases. Customers who on-board through a stablecoin on-ramp, such as a web application created and maintained by a licensed CENTRE token-issuing member, can transfer fiat funds into that CENTRE issuer&rsquo;s account. The issuer then executes a series of commands with the CENTRE network to verify, mint, and validate fiat tokens pegged to the value of those deposited funds. The customer can then transfer those tokens elsewhere in order to use them. Redemption follows the reverse sequence: fiat tokens are burned when a customer visits an off-ramp such as a web application maintained by a licensed CENTRE issuing member. Upon successful verification and validation, funds from underlying fiat reserves would be transferred to the customer&rsquo;s external bank.</p>
<h1 id="what-does-usdc-do">What does USDC do?</h1>
<p class="has-normal-font-size">Circle Company issues&nbsp;<strong>USDC</strong>&nbsp;with the following objectives:</p>
<ul class="has-normal-font-size">
<li><strong>Bring transparency</strong>: Transparency brings trust, and trust is a necessary factor in giving users a reason to trust stablecoins to be stable over the long term. The source code of the&nbsp;<strong>USDC</strong>&nbsp;token is open, so all issuance and amount of&nbsp;<strong>USD</strong>&nbsp;<strong>coins</strong>&nbsp;are publicly disclosed and audited by leading auditing firms.</li>
<li><strong>Bring high liquidity:</strong>&nbsp;<strong>USDC</strong>&nbsp;is backed 1:1 with the US Dollar. Circle is one of the major technology companies in the US, it is valued at 3 billion&nbsp;<strong>USD</strong>, and is licensed to operate by the New York Stock Exchange (NYSE). Having a large company like Circle behind it as a launch pad will make it possible for this token to withstand periods of market volatility and reach the sustainable crypto space. In addition, investors can convert USD to&nbsp;<strong>USDC</strong>&nbsp;and vice versa at any time at a ratio of 1:1, only needing approval through Circle&rsquo;s KYC/AML process. Circle also ensures that the&nbsp;<strong>USD Coin</strong>&nbsp;rate is always stable around 1&nbsp;<strong>USD</strong>&nbsp;to provide the best store of value for investors.</li>
<li><strong>Build credibility:</strong>&nbsp;A brand everyone knows and loves will make&nbsp;<strong>USDC</strong>&nbsp;easier to accept.</li>
</ul>
<p class="has-normal-font-size"><strong>USD Coin</strong>&nbsp;functions exactly like the US dollars, so you can spend it in pretty much any way you would with cash. The only thing you can&rsquo;t do with a token is to fold it up and stuff it in your pocket.</p>
<p>Here are some of the most typical usage of&nbsp;<strong>USD</strong>&nbsp;<strong>Coin</strong>:</p>
<ul class="has-normal-font-size">
<li>Buy cryptocurrencies: You can trade&nbsp;<strong>USDC</strong>&nbsp;for any other type of crypto across many platforms. Note that since its value is fixed to the dollar, you&rsquo;ll be subjected to exchange rate fluctuations when trading for other stablecoins.</li>
<li>Make online purchases: One of the most significant advantages of using&nbsp;<strong>USDC</strong>&nbsp;is privacy. Transactions made on DEX are verified by smart contracts. They serve as a receipt of your payment so you can always keep track of your expenses. Commercial purchases are also possible. Companies that accept crypto payments usually take&nbsp;<strong>USD</strong>&nbsp;Coins as well. They include major corporations like Amazon, Microsoft, Visa, Tesla, and more.</li>
<li>Earn Interests: Like the regular dollars, you can put&nbsp;<strong>USD</strong>&nbsp;Coins in an earning program, an exchange may offer, and make passive gains. Since it has a fixed value, you won&rsquo;t have to worry about depreciation.</li>
</ul>
</div>
</div>
<p class="has-normal-font-size">&nbsp;</p>

All about

<h2 class="MuiBox-root jss7173"><strong>Token Usage</strong></h2>
<div class="MuiBox-root jss7174"><strong>Key Info</strong>
<div class="jss7208">Token Type: ERC-20. Token Uses: Payments</div>
<div class="MuiBox-root jss7210"><hr class="MuiDivider-root jss6645 MuiDivider-light jss6646" /></div>
<div class="MuiBox-root jss7211 jss7177">
<p class="MuiTypography-root jss7176 MuiTypography-body2 MuiTypography-paragraph">USDC can be transacted over the Ethereum blockchain in the same manner as Ether or any other ERC-20 asset. If a user wishes to redeem USDC they can send tokens to an address controlled by CENTRE members who will destroy the tokens and transfer fiat currency to the user's bank account. USDC&rsquo;s existence on public blockchains allows traders and exchanges to use USDC as an alternative to fiat currencies allowing them to outsource their banking needs to CENTRE. USDC existence as an ERC-20 token on Ethereum allows it to be integrated with Ethereum based applications. In addition to being used a method of payment, USDC can also be lent, borrowed, staked, and traded using DeFi protocols.</p>
</div>
</div>
<h2 class="MuiBox-root jss7173"><strong>Supply Schedule</strong></h2>
<div class="MuiBox-root jss7174"><strong>Key Info</strong>
<div class="jss7208">General Emission Type: Burn &amp; Mint. Precise Emission Type: Other Burn &amp; Mint models</div>
<div class="MuiBox-root jss7213"><hr class="MuiDivider-root jss6645 MuiDivider-light jss6646" /></div>
<strong>Details</strong>
<div class="MuiBox-root jss7214 jss7177">
<p class="MuiTypography-root jss7176 MuiTypography-body2 MuiTypography-paragraph">Users create new tokens by depositing fiat currency into regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. CENTRE notes that issuers are required to regularly report their USD reserve holdings, and Grant Thornton LLP issues reports on those holdings every month. Tokens are destroyed when users send tokens to an address controlled by CENTRE members.</p>
</div>
</div>
<p>&nbsp;</p>

Technical Data

<p class="has-normal-font-size">Ultimately&nbsp;<strong>USDC</strong>&nbsp;is one of the leading stable coins for a reason and continues to play a large role in the adoption of cryptocurrency globally. Built through a partnership with two reputable organizations Coinbase and Circle, and overseen by Centre, a leading open source project&nbsp;<strong>USDC</strong>&nbsp;remains one of the most trusted stable coin assets on the market today.</p>
<p class="has-normal-font-size">Read More: <a href="https://coincu.com/currencies/usdc-usd-coin/">Click Here</a></p>

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