USDC (USDC)

  • Official Website: circle.com
  • Definition: USD Coin is a stablecoin pegged to the US dollar, issued by Circle.
  • Category: Stablecoin, Token.
  • What It Is: A cryptocurrency backed by fiat reserves, providing price stability.
  • Function: Used for trading, remittances, and as a stable store of value.
  • Analogy: Think of USDC as a digital bank account. It’s secure, stable, and always worth $1.
  • Pros: Price stability, transparency, regulatory compliance.
  • Cons: Centralization, reliance on Circle’s reserves.
  • Controversies: Concerns over reserve audits, competition with other stablecoins.

This page was last updated on January 28, 2025.