What is USD Coin?
USD Coin (USDC) is a type of cryptocurrency known as a stablecoin.
USD Coin value is tied to the US Dollar (USD). 1 USD Coin is worth 1 USD
Every USD Coin token in circulation is backed by $1 USD in cash or cash equivalents, such as short-term U.S. Treasury bonds held by regulated U.S. financial institutions.
USD Coin is managed by Centre, a joint enterprise between peer-to-peer payment provider - Circle - and one of the largest crypto exchanges in the world - Coinbase.
This offers a secure and transparent way to gain exposure to value pegged to the Dollar and provides a stable digital asset to store funds.