What is USD Coin?
USD Coin (USDC) is a fiat-backed stablecoin pegged to the U.S. dollar. It was developed by Circle and is fully backed by real-world assets such as cash and U.S. Treasury bonds to maintain a 1:1 value with the U.S. dollar. USDC is designed to enable fast, low-cost, and reliable payments across global financial and crypto markets.
Whitepaper: MiCA USDC Whitepaper
How does USD Coin work?
USD Coin functions as a stablecoin on various blockchains, including Ethereum, Solana, Algorand, and Stellar. Each USDC token is backed by an equivalent amount of U.S. dollars or liquid assets held at regulated financial institutions. This means that USDC can be redeemed for USD at a fixed 1:1 ratio at any time through its issuer, Circle.
The token
Ticker: USDC
Category: Stablecoin
Blockchain: Ethereum, Solana, Algorand, Stellar, and more
Protocol: ERC-20 and other standards
Year of launch: 2018
The technology behind USD Coin
USDC is built on smart contract technology and can be issued across multiple blockchains. This enables fast transactions, low fees, and interoperability between networks. The issuance and redemption of USDC are managed by Circle and regulated financial partners, ensuring transparency and stability.
The USD Coin ecosystem
USDC is widely used both within and beyond the crypto industry. It is accepted as a payment method, used in decentralized finance (DeFi), integrated into crypto exchanges, and supported by various wallets and payment providers. Due to its stability and transparency, USDC is increasingly used as an alternative to traditional bank transfers and international payments.
Who founded USD Coin?
USD Coin was launched in 2018 by Circle, a financial technology company focused on digital payments and blockchain technology. Circle was founded by Jeremy Allaire and Sean Neville and collaborates with regulated institutions to ensure the stability of USDC’s value.
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Cryptocurrencies, including USD Coin (USDC), are volatile and carry risks. The value of USDC can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.
For more information, consult the crypto asset whitepaper which includes information about the provider, information about the crypto asset, information about the risks and information about the impact of the asset on the climate; MiCA USDC Whitepaper
The BTC Direct disclaimer van be found here: https://btcdirect.eu/en-eu/disclaimer