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USDC price today, USDC to USD live price, marketcap and chart | CoinMarketCap

price today, USDC to USD live price, marketcap and chart | CoinMarketCapCryptos: 2.2M+Exchanges: 724Market Cap: $2.68T1.93%24h Vol: $163.11B4.77%Dominance: BTC: 52.0% ETH: 17.7% ETH Gas: 70 Gwei Fear & Greed: 92/100CryptocurrenciesCryptocurrenciesRankingCategoriesGlobal ChartsHistorical SnapshotsBitcoin ETFsLeaderboardsTrendingRecently AddedGainers & LosersMost VisitedNFTOverall NFT StatsTop CollectionsUpcoming SalesOn Chain DataDex PairsChain RankingHot DEX PairsExchangesSpotDerivativesDEXCommunityFeedsTopicsLivesArticlesProductsPRODUCTSConverterCMC LabsTelegram BotAdvertiseCrypto APISite WidgetsCAMPAIGNSAirdropsDiamond RewardsLearn & EarnCALENDARSICO CalendarEvents CalendarLearnNewsAcademyResearchVideosGlossaryHalving: 35DWatchlistPortfolioSearch/USDC price USDC$0.9999  0.01% (1d)USDC to USD ChartLoading DataPlease wait a moment. Add to watchlist USDC statisticsMarket cap 0.29%$30,336,404,476#7Volume (24h) 2.06%$12,509,784,602#5Volume/Market cap (24h) 41.24%Circulating supply 30,340,061,297 USDCTotal supply 30,340,061,297 USDCMax. supply --Fully diluted market cap $30,336,404,476ContractsEthereum: 0xa0b8...06eb48 More Official linksWebsiteWhitepaperGitHubSocialsTwitterRating  ·  Based on 3 institutional ratings4.0   Network informationChain explorersSupported walletsUCID3408  USDC to USD ConverterUSDCUSDPrice performance24h Low$0.9985High$1.00All-time highNov 16, 2021 (2 years ago)$2.35-57.44%All-time lowMar 11, 2023 (a year ago)$0.8774+13.96%See historical dataPopularityIn watchlists312,036x208th / 9.0KTagsMedium of ExchangeStablecoinAsset-Backed StablecoinShow allMore informationDo you own this project? Update Token Info Loading DataPlease wait a moment. USDC community          USDC marketsALLCEXDEXSpotPerpetualFuturesAll pairsLoading data...Show full widthDisclaimer: This page may contain affiliate links. CoinMarketCap may be compensated if you visit any affiliate links and you take certain actions such as signing up and transacting with these affiliate platforms. Please refer to Affiliate DisclosureUSDC news                    About USDCWhat Is USDC (USDC)?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.The stablecoin originally launched on a limited basis in September 2018. Put simply, USDC’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.Several use cases have been unveiled for the USDC. 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.Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.Who Are the Founders of USDC?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.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.”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 USDC to be used for everyday payments, commerce and peer-to-peer transactions.What Makes USDC (USDC) Unique?The stablecoin market has become exceedingly crowded over recent years — but USDC has aimed to stand head and shoulders over competitors in several ways.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.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.Coinbase briefly contemplated diversifying the funds backing USDC, 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 USDT, which has found itself embroiled in repeated investigations, USDC has never been accused of any wrongdoing. That has led to USDC gobbling up much of USDT's dominance in the stablecoin 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.How Much Is Held in USDC Asset Reserves?Following the collapse of TerraUSD, stablecoin issuers have been under intense scrutiny over the quality of the reserves backing their tokens. In a transparency move, Circle Internet Financial LLC (Circle), the issuer of the USDC stablecoin released its reserves report as of July 31, 2022.According to the report, the total USDC reserves held by the company consist of $42.3 billion worth of US Treasury Securities and total cash deposits of $12.2 billion. The monthly reserve report was issued by leading global accounting firm Grant Thornton.The accounting firm later released an independent attestation dated August 24, 2022. It reads:“In our opinion, the Reserve Information in the accompanying USDC Reserve Report as of July 31, 2022 is fairly stated, based on the criteria set forth in the USDC Reserve Report, in all material respects.”How Many USDC (USDC) Are There in Circulation?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.That said, there have been factors that have helped USDC 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 DeFi protocols given how it serves as an onramp to the wider ecosystem.How Is the USDC Network Secured?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.Where Can You Buy USDC (USDC)?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. USDC can also be purchased and traded on Poloniex, Binance, OKEx and Bitfinex, as well as decentralized exchanges such as Uniswap.USDC is commonly bought with Bitcoin — and if it’s your first time buying Bitcoin, be sure to check out our comprehensive guide here.World’s Largest Asset Manager Shows Interest in USDCIn a seemingly loosely regulated space, USDC has continued to distinguish itself from other stablecoin projects by forging ties with traditional financial institutions.Following a $400 million funding round, which saw participation from BlackRock, Fidelity, Fin Capital, and Marshall Wace LLP, BlackRock revealed that it had “entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.”In addition to partnering with the world’s largest asset manager, the stablecoin provider has inked other deals with big names from the world of traditional finance. In March, news broke that America’s oldest bank BNY Mellon would serve as the primary custodian of the assets backing USDC stablecoins. Meanwhile, a press release revealed that BlackRock will serve as a primary asset manager of USDC cash reserves.Related Pages:What is a stablecoin?Find out about USDT, one of USDC’s biggest competitorsDetailed definitions for stablecoins in the CoinMarketCap glossaryCoinMarketCap Blog: Insightful analysis and features          USDC analyticsLoading...Popular Tokens on the Ethereum ChainEthereumETH$4,049.675.23%Shiba InuSHIB$0.000033435.35%ChainlinkLINK$21.132.44%UniswapUNI$14.473.00%UNUS SED LEOLEO$5.863.20%ImmutableIMX$3.718.27%QuantQNT$126.638.14%The GraphGRT$0.4380.70%Fetch.aiFET$2.760.36%Bitget TokenBGB$0.89343.20%SingularityNETAGIX$1.261.01%DecentralandMANA$0.7774.70%GalaGALA$0.072583.29%AaveAAVE$136.286.95%MakerMKR$2,616.741.69%Joe coinJOE$0.00698941.17%AigentXAIX$0.70844.11%JFIN CoinJFIN$0.38864.31%FansTimeFTI$0.0000343311.08%PandoPANDO$0.0021344.41%Most Visited CryptocurrenciesArtradeATR$0.01855176.44%CatgirlCATGIRL$0.000000000694117.87%EggdogEGG$0.00694613.34%RichQUACK.comQUACK$0.0000000013833.35%Baby ElonBABYELON$0.0000000000143113.78%neversolNEVER$0.000241516.57%OpSecOPSEC$1.7814.01%TABOO TOKENTABOO$0.0029777.71%MinuMINU$0.0000007079.07%Bonk 2.0BONK2.0$0.0000000531914.01%BitcoinBTC$70,887.562.28%DechatDECHAT$3.9026.64%Script NetworkSCPT$0.0502122.79%Okratech TokenORT$0.0202719.07%WavesWAVES$3.482.24%ShibwifhatSHIB$0.011533.18%Shiba InuSHIB$0.000031644.69%ArtyfactARTY$1.888.18%XRPXRP$0.6865.90%EthereumETH$3,938.982.88%Global PricesUSDC/USDUnited States Dollar$0.9999USDC/EUREuro€0.915USDC/GBPPound Sterling£0.7816USDC/CNYChinese Yuan¥7.18USDC/CADCanadian Dollar$1.35USDC/AUDAustralian Dollar$1.51USDC/JPYJapanese Yen¥147.60USDC/KRWSouth Korean Won₩1,311.32USDC/RUBRussian Ruble₽91.73USDC/INRIndian Rupee₹82.83USDC/BRLBrazilian RealR$4.97USDC/TRYTurkish Lira₺32.09USDC/PHPPhilippine Peso₱55.51People also watchGoldMint$0.033832.67%Band Protocol$2.563.89%Uniswap$13.883.62%Firo$2.180.39%Chainlink$20.523.88%Oasis Network$0.17611.41%Blocknet$0.053222.36%yearn.finance$10,137.312.88%Solar$0.51941.99%MahaDAO$1.736.95%TrendingPepe$0.0000081286.36%Okratech Token$0.0202719.07%FLOKI$0.00026373.39%DEVAI$7.2349.32%Gala$0.069364.41%USDC Price Live DataThe live USDC price today is $0.999879 USD with a 24-hour trading volume of $12,509,784,602 USD. We update our USDC to USD price in real-time. USDC is up 0.01% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $30,336,404,476 USD. It has a circulating supply of 30,340,061,297 USDC coins and the max. supply is not available.If you would like to know where to buy USDC at the current rate, the top cryptocurrency exchanges for trading in USDC stock are currently Binance, OKX, Bybit, UEEx, and LBank. You can find others listed on our crypto exchanges page.CryptocurrenciesTokensUSDCProductsCMC LabsChatGPT PluginCrypto APICrypto IndicesDoodlesSitemapAdvertiseCompanyAbout usTerms of usePrivacy PolicyCookie preferencesCookie policyCommunity RulesDisclaimerMethodologyCareersWe’re hiring!SupportRequest FormContact SupportFAQGlossarySocialsX (Twitter)CommunityTelegramInstagramFacebookRedditLinkedIn© 2024 CoinMarketCap. All rights reserved

What Is USD Coin (USDC)? – Forbes Advisor

What Is USD Coin (USDC)? – Forbes Advisor

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What Is USD Coin? How Does It Work?

Coryanne HicksContributorCoryanne Hicks is an investing reporter, finance writer and ghostwriter whose work appears in Forbes Advisor, U.S. News & World Report, Kiplinger, Business Insider publications. Hicks has ghostwritten white papers and financial guidebooks for dozens of industry professionals. Her U.S. News video series on how to start investing at any age won an honorable mention at the 2019 Folio: Eddie & Ozzie awards for best Consumer How-To video. She was also a 2019 SABEW Goldschmidt fellow for business journalists. Previously, Hicks was a fully-licensed financial professional at Fidelity Investments.Coryanne Hicks Coryanne HicksContributorCoryanne Hicks is an investing reporter, finance writer and ghostwriter whose work appears in Forbes Advisor, U.S. News & World Report, Kiplinger, Business Insider publications. Hicks has ghostwritten white papers and financial guidebooks for dozens of industry professionals. Her U.S. News video series on how to start investing at any age won an honorable mention at the 2019 Folio: Eddie & Ozzie awards for best Consumer How-To video. She was also a 2019 SABEW Goldschmidt fellow for business journalists. Previously, Hicks was a fully-licensed financial professional at Fidelity Investments.Contributor Benjamin CurryeditorBen is the Retirement and Investing Editor for Forbes Advisor. With two decades of business and finance journalism experience, Ben has covered breaking market news, written on equity markets for Investopedia, and edited personal finance content for Bankrate and LendingTree.Reviewed ByBenjamin CurryBenjamin CurryeditorBen is the Retirement and Investing Editor for Forbes Advisor. With two decades of business and finance journalism experience, Ben has covered breaking market news, written on equity markets for Investopedia, and edited personal finance content for Bankrate and LendingTree.editorReviewed ByUpdated: May 26, 2022, 9:00am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

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As its name suggests, USD Coin (USDC) is a cryptocurrency whose value is tied to the U.S. dollar. USD Coin is a stablecoin, and as such one USDC should always be equal in value to one dollar.

USD Coin is the currently the second-largest stablecoin, with a current market capitalization of $73 billion. USD Coin and Tether (USDT) together account for 80% of the capitalization of the global stablecoin market.

Understanding USD Coin

Launched in 2018 by Centre, a consortium founded by Circle and Coinbase, USD Coin was created as a regulated stablecoin that runs on blockchain technology.

Stablecoins are a type of cryptocurrency whose value is pegged to another asset, such as a fiat currency, a commodity or even another crypto coin. USD Coin aims to maintain a one-to-one peg with the U.S. dollar.

Stablecoins like USDC are used differently than cryptos like Bitcoin (BTC) or Ethereum (ETH), which fluctuate in price. The sole purpose of this crypto is to provide a stable store of value, rather than provide an asset that, theoretically, appreciates in value over time.

The year-to-date return on Bitcoin is -35% as of this writing, for example. Meanwhile, the value of USDC has remained almost completely flat year to date. The lowest trading price that USDC has fallen to within the last 52 weeks is $0.995, a slight dip below its dollar peg.

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USDC is backed by real assets, and is sometimes referred to as a fiat-collateralized stablecoin. As the name suggests, fiat-collateralized currencies are backed by a sovereign currency, such as the U.S. dollar or the British pound.

To maintain USDC’s stable value equal to $1, USDC is backed by cash and short-term U.S. government bonds as collateral. For every USDC token in circulation, $1 is held in collateral.

When crypto investors buy USD Coin, they expect one USDC to always be equal in value to one dollar. So why own USDC? The most common use case is to purchase USDC, store it on an exchange or in a crypto wallet, and then use it to fund purchases of other cryptocurrencies.

USDC Offers Transparency

Steve Bumbera, chief operating officer of Many Worlds Token, says USDC is typically looked at as a safer stablecoin because of the degree of transparency surrounding its collateral reserves.

“Centre works with auditors and government regulation with a transparent and clear description of the reserves available to back the peg to the U.S. dollar,” Bumbera says.

You can even view monthly reports of these reserve balances, including how much USDC is in circulation and its equivalent value in U.S. dollars.

Auditing firm Grant Thornton releases USDC’s attestations. As of May 2022, Circle announced that the company would provide weekly attestation reports. They help build trust in USDC, as they disclose the precise amount of actual funds backing the stablecoin.

When you buy 1 USDC, a new USDC is minted. And when you choose to sell 1 USDC for fiat currency, the coin is “burned” when you make the transaction.

Similar to the U.S. dollar, USDC is also divisible. You can hold down to 0.000001 USDC, although Coinbase sets a withdrawal limit of 0.001 USDC. You also can’t withdraw more than 15,000,000 USDC at one time.

“Digital asset market participants can interact with or acquire USDC via trading USDC denominated pairs on an exchange, or directly interacting with USDC’s issuer,” says Marco Manoppo, research director at Digital Asset Research.

USDC provides liquidity to crypto markets and is available as an asset on several major blockchain networks, such as Ethereum, Algorand (ALGO), Solana (SOL) and TRON (TRX), to name a few. To be super specific, USDC is also an ERC-20 utility token, which is standard for creating smart contracts on the Ethereum network.

Pros and Cons of USD Coin

USD Coin’s main advantage is that it enables people to buy and sell other cryptocurrencies without having to move fiat currency in and out of exchanges.

USDC can be transferred 24/7 and is faster to send than traditional currencies, with settlements occurring in seconds. Transaction costs are low cost, making it cost- and time-efficient to use.

In the words of Jeremy Allaire, founder and CEO of Circle, “What makes USDC such a great product is that it’s easy to create and redeem, with seamless integration with the existing global banking system. As a result, customers are able to use it as a very efficient pipe between legacy electronic dollars and digital currency dollars.”

“It also enables the transfer of capital across different geographical jurisdictions much faster, especially compared to traditional wire transfers,” Manoppo says.

There are still downsides to using USDC. For one, there is no price appreciation. Users should also be aware of the regulatory landscape surrounding digital currencies and stablecoins. Crypto experts also say that government regulations against these digital assets could have a crippling effect on the future of these assets.

USD Coin vs. Bitcoin

What separates USD Coin from cryptos like Bitcoin is that it is fully collateralized.

“Unlike USDC, Bitcoin is not backed by other assets,” Manoppo says. “BTC’s value narrative revolves around its scarcity, similar to gold.”

While USDC’s value is based on the value of the U.S. dollar, Bitcoin’s value is derived from its limited supply. There will only ever be 21 million bitcoins in circulation. If you’re keeping score, currently, there are roughly 19 million Bitcoins in the marketplace. Crypto believers say this scarcity will enable the coin’s value to continue rising over time.

But there are challenges to having an asset’s value defined only by people’s perceptions, as demonstrated by Bitcoin’s volatile nature.

Meanwhile, USDC’s value has stayed relatively stable over its life, although there may be some short-term volatility during extreme market periods, Manoppo says.

The flip side of the investment narrative is that having a digital asset pegged to a fiat currency like the U.S. dollar doesn’t make a great investment for appreciation.

Is USD Coin a Good Investment?

Purchasing USD Coin won’t generate any returns for investors, as it is intended to be a stablecoin. So the advantage of this crypto is more about its usage, as there isn’t an expected price appreciation with this coin.

Investing in USDC would be like stashing U.S. dollars under your mattress, and your investment would never be worth more than the equivalent cash.

That said, there are some avenues to profit off of USDC. You can make passive income with USDC by lending it to other crypto investors. A few lending programs will pay you interest for lending your USDC. But of course, no investment is risk-free, and you are taking a little bit of risk on borrowers in gaining a yield on USDC.

Again, the overall goal of USDC is to help businesses and individuals transfer currency in a faster and more economical way by eliminating the need for traditional intermediaries like banks and providing a stable crypto.

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Coryanne Hicks is an investing reporter, finance writer and ghostwriter whose work appears in Forbes Advisor, U.S. News & World Report, Kiplinger, Business Insider publications. Hicks has ghostwritten white papers and financial guidebooks for dozens of industry professionals. Her U.S. News video series on how to start investing at any age won an honorable mention at the 2019 Folio: Eddie & Ozzie awards for best Consumer How-To video. She was also a 2019 SABEW Goldschmidt fellow for business journalists. Previously, Hicks was a fully-licensed financial professional at Fidelity Investments.

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USD Coin - Wikipedia

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From Wikipedia, the free encyclopedia

Cryptocurrency linked to the US dollar

This article is about the cryptocurrency. For United States coinage, see Coins of the United States dollar.

USD CoinDenominationsCodeUSDCDevelopmentWhite paperUSDC White PaperInitial releaseSeptember 2018Developer(s)CircleWebsiteWebsitewww.circle.com/en/usdc

USD Coin (USDC) is a digital stablecoin pegged to the United States dollar. USD Coin is managed by Circle.[1] USDC is issued by a private entity and should not be confused with a central bank digital currency (CBDC).

Usage[edit]

USDC is available as an Ethereum ERC-20 token, and on other blockchains.[2][3] Visa began a pilot program to send USDC over the Solana blockchain to the payment firms Worldpay and Nuvei, who could then transfer payment to merchants.[4]

Reserves[edit]

Circle claimed prior to mid-2021 that each USDC was backed by a dollar held in reserve, or by other "approved investments", though the other investments were not detailed. The wording on the Circle website changed from the previous "backed by US dollars" to "backed by fully reserved assets" in June 2021.[5]

As of 2020, USDC reserves were regularly attested (but not audited) by Grant Thornton, LLP,[6] and as of 2021, the monthly attestations could be found on the Centre Consortium's website.[7]

History[edit]

USDC was first announced on 15 May 2018 by Circle,[6] and was launched in September 2018 by a consortium called Centre, a joint venture between Circle and Coinbase.[8]

On March 29, 2021, Visa announced that it would allow the use of USDC to settle transactions on its payment network.[9]

As of July 2022[update], Circle said that there were 55 billion USDC in circulation.[10]

On March 11, 2023, USDC lost its peg to the dollar for several days after Circle publicly stated that $3.3 billion, approximately 8% of its reserves, were at risk due to the collapse of Silicon Valley Bank that had occurred the previous day.[11] USDC regained its peg to the dollar four days later.[12]

In August 2023, Circle and Coinbase closed the Centre Consortium, the organization that had managed USDC since 2018, giving Circle sole governance of USDC.[13]

See also[edit]

Jeremy Allaire

Tether (cryptocurrency)

References[edit]

^ Arnold, Martin (15 May 2018). "China bitcoin miner Bitmain leads $110m investment in Circle". Financial Times. Archived from the original on 9 November 2020. Retrieved 6 June 2020.

^ "Centre | USD Coin". www.centre.io. Retrieved 16 September 2022.

^ "USDC to be available on 15 blockchains after adding 6—including Base, Optimism, and Polygon PoS—over next 2 months". Fortune. Retrieved 28 February 2024.

^ "Visa to send stablecoin USDC over Solana to help pay merchants in crypto". Fortune Crypto. Retrieved 19 September 2023.

^ Venkataramakrishnan, Siddharth (9 July 2021). "Circle listing will test top stablecoin's transparency over reserves". Financial Times.

^ a b Irrera, Anna (16 May 2018). "Circle raises $110 million, plans to create dollar-pegged cryptocurrency". Reuters. Archived from the original on 6 June 2020. Retrieved 6 June 2020.

^ Centre. "Centre | USD Coin". www.centre.io. Retrieved 7 June 2021.

^ Rooney, Kate (23 October 2018). "Cryptocurrency giants Coinbase and Circle form joint venture to boost adoption of dollar-backed digital coins". CNBC. Retrieved 7 January 2024.

^ Hussain, Noor Zainab (29 March 2021). "Exclusive: Visa moves to allow payment settlements using cryptocurrency". Reuters. Archived from the original on 30 March 2021. Retrieved 30 March 2021.

^ "A Letter from our CEO | Circle's Strength, Stability & Transparency".

^ Ge Huang, Vicky; Miao, Hannah; Ostroff, Caitlin (11 March 2023). "Circle's USDC Stablecoin Breaks Peg With $3.3 Billion Stuck at Silicon Valley Bank". The Wall Street Journal.

^ "US Bank Crisis Prompts Stablecoin Backer's Flight to Big Lenders". Bloomberg.com. 16 March 2023. Retrieved 19 September 2023.

^ "USDC to be available on 15 blockchains after adding 6—including Base, Optimism, and Polygon PoS—over next 2 months". Fortune Crypto. Retrieved 19 September 2023.

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USDC Price | USDC Price Index and Chart - CoinDesk

Price | USDC Price Index and Chart - CoinDesk

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So far this year, USDC has a change of -0.20%. USDC is classified as a Stablecoin under CoinDesks Digital Asset Classification Standard (DACS).USD coin (USDC) is an Ethereum-based stablecoin – a type of digital asset whose value is pegged 1:1 with the U.S. dollar. That means holders can redeem 1 USD coin for $1 at any time. Every USDC is backed by one dollar or an asset with an equivalent value, held in accounts with U.S. regulated financial institutions.USDC priceLaunched in late 2018, USDC is designed to maintain a stable value unlike other typically volatile cryptocurrencies. But even stablecoins such as USDC can still be prone to mild changes in price.USDC’s price spiked to an all-time high of $1.19 in May 2019, and noted an all-time low of $0.891848 in May 2021. Changes to supply and demand is the main reason stablecoins move off their $1 peg. During bullish market cycles, demand for stable value assets like USDC drops. That causes the price of USDC and other U.S. dollar-backed stablecoins to fall beneath one dollar. Overall, though, USD coin has maintained long periods of stability at $1.There is no maximum or total supply of USD coin, as new tokens are issued based on demand.When a user redeems USDC for $1, the team burns (permanently removes) the appropriate amount of USD coin from circulation, and funds from underlying reserves are transferred to the client’s external bank.How does USD coin work?USD coin serves to tokenize U.S.dollars on a blockchain. The service is a collaboration between crypto exchange Coinbase and financial services provider Circle. Their shared vision to bring U.S. dollars onto a blockchain means traders can preserve their portfolio’s dollar value during periods of high volatility without having to exchange their crypto assets for a fiat currency. It also allows for tokenized dollars to be sent across a blockchain network – something that’s much faster and cheaper than sending dollars through the legacy banking system.USD coin can be generated only by sending USD to the token issuer’s bank account and interacting with the smart contract on the blockchain one wants to use. To redeem USDC for USD, the process is reversed.USDC is found on multiple public blockchains, including Ethereum, Solana, Algorand, Stellar, Tron and Hedera. The token is interoperable with all features on the public blockchains it resides on, including decentralized finance (DeFi) and smart contracts.Key events and managementUSD coin was developed by the Centre Consortium, a company that represents the partnership between Circle and Coinbase. Centre develops the technology and governing framework of USD coin, and Circle and Coinbase issue the coin.Centre was founded in 2017 by Wall Street veteran David Puth, who was still the CEO as of November 2021. The company raised $20 million during an initial funding round in December 2017 and another $20 million through a November 2018 venture round led by Digital Finance Group, according to Crunchbase.USD coin is available on the Optimism layer 2 scaling product for the Ethereum network. Because the project is open to collaboration, Centre and USDC issuers may explore other layer 2 opportunities in the future.Read less...Buy crypto on a secure, trusted platform.Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.Latest About USDCView All FinanceBankingCrypto Wallet SafePal Ventures Into Banking With New USDC Visa CardUsers can create individually owned, fully compliant bank accounts and use USDC stablecoin as the default deposit currency.By Shaurya MalwaSponsoredMar 7, 2024 at 12:39 p.m. UTCMar 7, 2024bankingMarketsUsdcStablecoin USDC Is Making a Comeback: CoinbaseTotal market cap of Circle's USDC has increased faster than that of larger rival Tether's USDT in recent months, the report said.By Will CannySponsoredFeb 27, 2024 at 11:22 a.m. UTCFeb 27, 2024USDCCircleStablecoinsMarketsTronUSDC Stablecoin Issuer Circle Dumps Tron Network; TRX SteadyCircle cited its “risk management” framework as part of the decision, among other factors.By Shaurya MalwaSponsoredFeb 21, 2024 at 3:48 a.m. UTCFeb 21, 2024TronStablecoinMarketsMarketsOpinionDiversifying Stability: Stablecoins Finding Home Beyond the GreenbackFollowing the success of Tether and USDC, a generation of stablecoins are offering new features for investors and holders, says Scott Sunshine, Managing Partner of Blue Dot Ad...By Scott SunshineSponsoredFeb 7, 2024 at 5:01 p.m. UTCFeb 7, 2024OpinionCrypto Long & ShortStablecoinsTetherUSDTUSDCTerra ecosystemUSDC PriceBuy / SelleToroSponsoredBuy Crypto on a Trusted PlatformTransparent, fixed, unified feed with no hidden costs. Join 30M+ users.Cryptoassets are highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.UpholdSponsoredThe easy-to-use, fully reserved and transparent crypto platformBuying crypto made simple. Instantly invest in over 265 cryptoassets with Uphold.All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection.24H Low$0.9868760924H High$1.0024H Open$0.9875001024H Change$0.0128799352 Week Low$0.9436160052 Week High$1.04All Time High$1.19Returns (YTD)-0.20%USDC Market StatsMarket Cap$30.27B24H VolumeN/AMax SupplyN/ATotal Supply30.27B24H Value TransactedN/A30D Volatility0.0362960024H Transaction Count57,42224H Average Transaction FeeN/AShow more statsTrending AssetsView All eToroSponsoredDiscover a friendly, trusted crypto investing platformEnjoy an easy-to-use experience as you trade over 70 top cryptoassets such as Bitcoin, Ethereum, Shiba and more. Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest. | XBXBitcoin Price Index XBXThe CoinDesk Bitcoin Price Index (XBX) is the world’s leading reference for the price of bitcoin, used by the largest institutions active in crypto assets. It is the crypto market standard, benchmarking billions of dollars in registered financial products and pricing hundreds of millions in daily over-the-counter transactions. Built for replicability and reliability, in continuous operation since 2014, the XBX is relied upon by asset allocators, asset managers, market participants and exchanges. The XBX is the flagship in a portfolio of single- and multi-asset indices offered by CoinDesk.Learn more onCoinDesk Indices BTCBitcoin$70,921.63-2.32%eToroSponsoredDiscover a friendly, trusted crypto investing platformEnjoy an easy-to-use experience as you trade over 70 top cryptoassets such as Bitcoin, Ethereum, Shiba and more. Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest. ETHEthereum$3,939.02-3.00%BNBBinance Coin$535.964.38%SOLSolana$147.50-0.37%XRPXRP$0.68370573-6.25%ADACardano$0.73816496-5.47%DOGEDogecoin$0.16517009-5.93%Unmute UnchainedHow, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 YearsEric Balchunas of Bloomberg Intelligence explains why the spot Bitcoin ETFs have made TradFi move at the speed of crypto — and why he’s uncertain spot Ether ETFs will be approved Read more...Watch CoinDesk TV|View all videoseToroSponsoredBuy crypto with FREE cold storageYour top cryptoassets deserve top-tier security. Own a wide variety of cryptos on a trusted and safe platform. Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.Crypto SectorsSectorsAssetsIndustry & GroupUSDC (USDC) is not in the CoinDesk DACS 500.DACSUSDC Top assets in SectorAssetsWeight24H%Source: Coindesk DACS monthly updateCoinDesk IndicesView AllTop Indices including USDCIndex nameTickerWeight24HBitcoin CalculatorCrypto to FIATCrypto to CryptoBuy / SelleToroSponsoredBuy Crypto on a Trusted PlatformTransparent, fixed, unified feed with no hidden costs. Join 30M+ users.Cryptoassets are highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.UpholdSponsoredThe easy-to-use, fully reserved and transparent crypto platformBuying crypto made simple. Instantly invest in over 265 cryptoassets with Uphold.All investments and trading are risky, and may result in the loss of capital. 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USDC

$1.00

0.00%

USD Coin currently traded at $1.00 price, we update this information in real time. Over the past 24 hours it changed from $1.00 to $1.00. Currently USD Coin is ranked as #7 in our chart. The total supply of USD Coin is 30,310,954,215.00

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Category

$Best of the best

Market cap

$30,307,923,120.00

Volume (24h)

$8,108,354,560.00

Volume/Market cap (24h)

26.75%

Circulating supply

30,310,954,215.00 USDC

Total supply

30,310,954,215.00 USDC

Max supply

30,310,954,215.00 USDC

Fully diluted market cap

$30,307,923,120.00

USDC to USD converter

USDC

BTCETHUSDTBNBSOLXRPUSDCADADOGEAVAXSHIBTONSTETHLINKWBTCUNIBCHNEARLTCICPFILMATICDAIETCDOTATOMBUSDAPTINJSTXRNDROKBPEPELEOFDUSDTHETALDOXMRTONCOINARBARFLOWMKRPLSBSVBTCBSUISANDHEXQNTWLDXTZPLSXEOSTUSDHNTNEOKCSKAVAGNOAXSCAKEUSDPCROBITEGLDOPAPEAAVEBTGCFXNEXOCELOPAXENSRPLUSDDXRDCRVBGBFRAXLPTGLAIMUSEUMLUNCSNXBTTCQTUMZECGMXXAUTCSPRILVMINADASHFXSDCRMASKKSMCVXTWTXDCGTANTPAXGAZEROSFPBALROSE1INCHMSOLOCEANGUSDXCHALUSDCCXXDFISXPBONELUNAGMTASTRJASMYsUSDYFISCXLCXNXMONEACHWINHTIMXHBTCOHMLENDMLNRUNESAFEUSDEURGBP

USD

USDEURGBPBTCETHUSDTBNBSOLXRPUSDCADADOGEAVAXSHIBTONSTETHLINKWBTCUNIBCHNEARLTCICPFILMATICDAIETCDOTATOMBUSDAPTINJSTXRNDROKBPEPELEOFDUSDTHETALDOXMRTONCOINARBARFLOWMKRPLSBSVBTCBSUISANDHEXQNTWLDXTZPLSXEOSTUSDHNTNEOKCSKAVAGNOAXSCAKEUSDPCROBITEGLDOPAPEAAVEBTGCFXNEXOCELOPAXENSRPLUSDDXRDCRVBGBFRAXLPTGLAIMUSEUMLUNCSNXBTTCQTUMZECGMXXAUTCSPRILVMINADASHFXSDCRMASKKSMCVXTWTXDCGTANTPAXGAZEROSFPBALROSE1INCHMSOLOCEANGUSDXCHALUSDCCXXDFISXPBONELUNAGMTASTRJASMYsUSDYFISCXLCXNXMONEACHWINHTIMXHBTCOHMLENDMLNRUNESAFE

1

USDC =

1.00

USD

Convert

About coin

USD Coin (USDC) is one of the most popular stablecoin cryptocurrencies on the market today. Since USD Coin price is pegged to the value of the US Dollar, its value is incredibly stable.

While price stability is the biggest selling point for USD Coin, there are lots of other reasons why USD Coin has quickly become one of the most commonly used cryptocurrencies in the world. We’ll cover all those reasons and more in this guide.

USD Coin Price

As you can see from the chart above, USD Coin price has remained remarkably stable since the coin launched in 2018. At its onset, USD Coin was worth exactly $1. This makes sense because USD Coin is tied to the US Dollar. Since 2018, USD Coin has reached a peak price of $1.17 and an all-time low of $0.87. Compared to other popular crypto coins, this price fluctuation is practically nothing. 

What is USDC?

USD Coin is a stablecoin operated by Centre through a collaboration with Circle and Coinbase, two major crypto companies. Stablecoins are coins whose value is tied to some other currency. In the case of USD Coin, its value is based on the value of the US Dollar. Because the price of the US Dollar doesn’t fluctuate much, the USD Coin price is able to remain stable.

USD Coin’s price stability has made it a very popular option for crypto enthusiasts who don’t want to invest in riskier coins like Bitcoin (BTC) or even more speculative coins like Dogecoin (DOGE). USD Coin is one of the most popular stablecoins and is often used for transacting online.

For clarity’s sake, we refer to USD Coin as “USD Coin” in this guide, but it’s also often referred to by its acronym “USDC.” Don’t get USDC confused with USDT, which is another popular stablecoin pegged to the US Dollar. We’ll get more into the difference between USDC and USDT later on in this USD Coin guide.

In a nutshell, USD Coin is a service to tokenize US dollars and facilitate their use over the internet and public blockchains. Besides, USDC tokens can be changed back to USD at any time. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.

Bringing US dollars on the blockchain allows moving them anywhere in the world within minutes, and brings much-needed stability to cryptocurrencies. Also, it opens up new opportunities for trading, lending, risk-hedging and more.

Who is the Team Behind The USD Coin?

USD Coin is developed by the Centre consortium, a partnership between Circle and Coinbase. The technology and governing framework are developed by Centre, while Circle and Coinbase are the first commercial issuers of USDC. Circle was founded in 2013 by the entrepreneurs Jeremy Allaire and Sean Neville and has a pretty impressive line up of authoritative individuals on board. You can view the full team behind the USDC coin on the About Circle page.

Circle is an official Money Transmitter, which makes the company an open financial book. Money Transmitters are US money service businesses that must comply with federal laws and regulations. Before the issuance of USDC, the equivalent amount of USD is with one of Circle’s accredited partners. Consequently, all USDC tokens are regulated, transparent and verifiable. Besides, Circle is known as the crypto startup backed by Goldman Sachs.

Centre went live with USD Coin in 2018. Since then, it has steadily grown in usage and popularity in the US and around the world. Today, USD Coin is one of the most popular stablecoins and a very common name in crypto circles. 

How Does USD Coin Work?

USD Coin exists on the blockchain like other cryptocurrencies, but it’s much more managed than other decentralized currencies. In order to maintain the 1:1 value compared to the US Dollar, the amount of USD Coin available on the market is heavily regulated. 

When you sell USD Coin, your coin is “burned” and moved to an inaccessible account. When you buy USD Coin with fiat currency, your currency is deposited in a regulated bank account and new USD Coin is minted.

Tokenizing USD into USDC is a three-step process:

1) A user sends USD to the token issuer’s bank account.2) The issuer uses USDC smart contract to create an equivalent amount of USDC.3) The newly minted USDC are delivered to the user, while the substituted US dollars are held in reserve.

Redeeming USDC for USD is as easy as minting the token, except the process is reversed:

1) A user sends a request to the USDC issuer to redeem an equivalent amount of USD for USDC tokens.2) The issuer sends a request to the USDC smart contract to exchange the tokens for USD and take an equivalent amount of tokens out of the circulation.3) The issuer sends the requested amount of USD from its reserves back to the user’s bank account. The user receives the net amount equivalent to the one in USDC tokens, minus all incurred fees).

Unlike the most popular stablecoin Tether (USDT), creators of the USD Coin are obligated to provide full transparency and work with a range of financial institutions to maintain full reserves of the equivalent fiat currency.

All USDC issuers are required to regularly report their USD holdings, which are then published by Grant Thornton LLP. All the monthly attestation reports can be found here.

How to Use USDC

USD Coin (USDC) is a 1:1 representation of one US dollar on the Ethereum blockchain. It’s an ERC-20 token and can be used with every app which supports the standard.

To tokenize or redeem USDC with Circle, you need to register an account, verify your identity (KYC), and link a legitimate bank account. Circle USD platform allows users to perform four core actions:

Tokenize USD;

Redeem USDC;

Transfer USDC out to ERC20 compatible Ethereum addresses;

Deposit USDC from external Ethereum wallet addresses.

Circle USDC doesn’t charge users any fees for tokenizing and redeeming services, except there is a $50 commission for incorrect and rejected bank transfers. For Coinbase USDC operations, all the standard fees apply.

A minimum USDC redemption amount is 100 USDC. The tokens are processed on business days only, and the process can take up to 24 hours.

There’s no minimum tokenization amount, and the process can take up to 2 business days.

In general, stablecoins like USDC are used to:

Short cryptocurrencies without cashing out and make it easier to buy cryptocurrencies in the future;

Avoid traditional financial instruments and institutions;

Avoid hyperinflation (for people living in countries like Venezuela or Turkey);

Send money instantly, globally, securely and at low cost;

Purchase items in various crypto dApps, exchanges, and blockchain-based games.

USD Coin Market Performance

USD Coin is one of the most popular stable coins on the market. Compared to other stablecoins, only Tether (USDT) has a larger market cap than USD Coin. At the time of writing, USD Coin’s market cap is $7.45B. 

How to Buy and Store USD Coin

Buying USD Coin is a super easy process. If you’re familiar with crypto at all, this process will look familiar to you. If you’re not, don’t worry. See our comprehensive guide below to learn all you need to know about buying USDC. 

Create an account with a cryptocurrency exchange platform. If the exchange has a crypto wallet service that you are comfortable using, skip Step 2 and go to Step 3. 

Open a crypto wallet where you can keep your USD Coin and other crypto.

Complete your cryptocurrency exchange platform’s identity verification checks. Once you verify your identity, you’ll be able to take advantage of all the exchange’s features. 

Deposit fiat currency into your cryptocurrency exchange platform account. 

Use your deposit to purchase USD Coin. 

If you are using an external wallet, you’ll need to send your USD Coin from your exchange account to your wallet. 

Believe it or not, it’s really that easy. Selling USD Coin is easy too. If you choose to use your cryptocurrency exchange platform as a crypto wallet, you can easily convert your USD Coin to fiat currency with just a few clicks. 

The Future of USD Coin

Predicting the future of any cryptocurrency is notoriously difficult. This is not the case with USD Coin. Because USD Coin is directly tied to the value of the US Dollar, predicting the USD Coin price is very easy. USD Coin will always be worth approximately $1. 

So what is the future of USD Coin then? While USD Coin doesn’t have the potential to explode in value like other coins, our crypto experts predict USD Coin will explode in popularity. USD Coin allows consumers to use cryptocurrency like fiat currency, which makes it appealing to crypto fans looking for the security crypto provides without the volatility of other coins. It is very useful for certain transactions that need a stable currency. 

Risks and Challenges

Cryptocurrency is a largely unregulated environment. This makes investing in any coin a more risky venture than investing in traditional financial assets. However, because USD Coin is a stablecoin, it’s a safer purchase than other coins. 

The benefit of USD Coin being a stablecoin is also one of its downsides. Because there is no chance to have your investment “go to the moon” when you buy USD Coin, less crypto enthusiasts have bought USD Coin than other coins. Practically speaking, USD Coin being less popular than other coins means it’s less wide-accepted than other coins. This is not going to be an investment that makes you rich. 

Regulatory and Legal Aspects of USD Coin

Like most of the crypto industry, USD Coin is largely unregulated in the US. This means your investment could be at risk should the government decide to crack down on crypto. It also means that your investment isn’t protected by traditional banking laws. 

However, USD Coin is backed by US Dollars held in segregated accounts at regulated financial institutions in the US. This is an added level of protection not offered by most cryptocurrencies, but we’d still advise you to be careful considering the overall risk of fraud in the crypto industry. 

Community and Ecosystem

With respect to other crypto communities, the USD Coin community is one of the most level-headed in the world of crypto. People who buy USD Coin aren’t looking to make millions from their coin. They are buying USD Coin to spend it like they would fiat currency. Why not just use fiat currency then? Because using USD Coin enables for more secure transactions, smart contracts, and other perks provided by using cryptocurrency. 

Comparing USD Coin to Other Cryptocurrencies

Compared to some of the other big-name cryptocurrencies, USD Coin is relatively under the radar. This is reflected in USD Coin’s market cap compared to other top coins. 

Tether (USDT), the top stable coin on the market, has a $95B market cap. USDT is also based on the US Dollar, so it’s used in a similar way to USD Coin. Most experts agree that USD Coin is a more secure investment at this time though, so we wouldn’t be surprised to see the gap between USDT and USD Coin shrink in coming years. 

USD Coin has a market cap just over $7B at time of writing. Bitcoin, the undisputed king of cryptocurrencies, has a market cap of $834B. Binance Coin, another one of the smaller coins compared to Bitcoin and Tether, has a market cap of over $45B. 

Simply put, USDC is not a major player on the cryptocurrency market yet. However, it’s extremely popular among casual traders who value its stability, ease of use, and relative security compared to other popular coins.

How is The USDC Coin Different From Other Stablecoins?

Crypto stablecoins can be put into four categories:

Fiat-collateralized. These include all stablecoins pegged to reserved fiat value. All fiat-collateralized coins are centralized by design. Examples: Tether (USDT); TrueUSD (TUSD); Gemini Dollar (GUSD); Paxos Standard Token (PAX); Digix Gold (DGX); USD Coin (USDC).

Crypto-collateralized. These are stablecoins whose value is pegged to reserved crypto assets. Examples: Makercoin (MKR & DAI); Havven (nUSD & HAV).

Algorithmic non-collateralized. Software-based economic models that seek to provide price stability without any collateralized assets. Example projects: Basis; Kowala; Fragments.

Hybrid. Stablecoins which rely on a blend of the approaches listed above.Example projects: Carbon.

USD Coin falls into the first, fiat-collateralized coins category, and is a centralized stablecoin. In general, all the projects within the same category work in a similar fashion and have only minor differences. The more outstanding ones are Tether (USDT), known for refusing to conduct a genuinely transparent audit, and Digix Gold (DGX), whose value is pegged to gold.

The rest fiat-collateralized stablecoins release regular attestations and are backed by US dollars. The main differences between them revolve around their fee policies and different partner organizations, but the business model, for the most part, stays the same.

Where Can You Get USD Coin?

USD Coin (USDC) can be purchased in the following exchanges:

Binance (paired with BTC, BNB).

Poloniex (paired with BTC, ETH, XRP, BHC, STR, LTC, ZEC, XMR, DOGE).

Coinbase Pro (paired with BTC, ETH).

Coinbase (paired with

CoinEx (paired with USDT).

Coinsuper (paired with BTC, USD).

OKEx (paired with BTC, USDT).

CPDAX (paired with BTC).

Hotbit (paired with USDT).

Kucoin (paired with BTC, ETH, USDT).

Korbit (paired with KRW).

FCoin (paired with USDT).

LATOKEN (paired with BTC, ETH).

SouthXchange (paired with BSV, DASH).

COSS (paired with BTC, ETH).

Crex24 (paired with USD).

Besides these exchange pairs, USDC can be turned to USD and vice versa at Coinbase.

Where to Store USD Coin

USDC is an ERC-20 token issued on the Ethereum blockchain and can be stored in any Ethereum wallet. The most popular options are MyEtherWallet, MetaMask, Mint or Jaxx wallets. If you don’t know how to set up an Ethereum wallet, see this quick guide.

Current State of the Project

USD Coin is a rapidly developing project with credible institutions behind it. Since the project announcement in May 2018, its ecosystem has already expanded to more than 60 partners.

Some of the latest news surrounding the USDC project is about the level of control project creators retain over the stable cryptocurrency. Apparently, the developers hold the right to blacklist addresses and freeze funds if there’s any suspicion that the USD Coins are used for illegal activities.

However, most of the other stablecoins also have similar clauses. The only stablecoin without such terms is DAI by Maker.

Similar Projects

Tether (USDT). The oldest and most popular USD-backed stablecoin.

TrueUSD (TUSD). USD-backed ERC-20 token by TrustToken Platform.

Gemini Dollar (GUSD). USD-pegged ERC-20 token issued by Gemini exchange.

Paxos Standard Token (PAX). An ERC-20 token pegged to the US dollar.

Dai (DAI). ERC-20 stablecoin pegged to the USD.

bitCNY (BITCNY). A stablecoin issued on BitShares blockchain and backed by Chinese Yuans (CNY).

bitUSD (BITUSD). A stablecoin issued on BitShares blockchain and backed by USD.

bitEUR (BITEUR). A stablecoin issued on BitShares blockchain and backed by Euros (EUR).

Stasis Eurs (EURS). A collateralized ERC-20 stablecoin pegged to the EUR.

nUSD (NUSD). An ERC-20 stablecoin issued by the Havven foundation.

White Standard (WSD). A USD-pegged stablecoin for global payments issued on Stellar protocol.

FAQs

How much is 1 USD Coin to buy?

At time of writing, USD Coin is trading at $1. This is extremely typical. The value of USD Coin is directly tied to the value of one US Dollar, so the value of one USD Coin will rarely be more or less than $1. 

Is USD Coin actually safe?

All cryptocurrencies come with risk. With that being said, USD Coin is one of the least risky coins you can invest in. The value of USD Coin is tied to the US Dollar, so, unless the dollar collapses, USD Coin price will remain stable. 

Does the government issue USD Coin?

No. The US government plays no role in issuing or managing USD Coin. It is not a central bank digital currency or a form of digital fiat currency. Centre and Circle, two cryptocurrency powerhouses who work with Coinbase, manage USD Coin.

Category

$Best of the best

Market cap

$30,307,923,120.00

Volume (24h)

$8,108,354,560.00

Volume/Market cap (24h)

26.75%

Circulating supply

30,310,954,215.00 USDC

Total supply

30,310,954,215.00 USDC

Max supply

30,310,954,215.00 USDC

Fully diluted market cap

$30,307,923,120.00

USDC to USD converter

USDC

BTCETHUSDTBNBSOLXRPUSDCADADOGEAVAXSHIBTONSTETHLINKWBTCUNIBCHNEARLTCICPFILMATICDAIETCDOTATOMBUSDAPTINJSTXRNDROKBPEPELEOFDUSDTHETALDOXMRTONCOINARBARFLOWMKRPLSBSVBTCBSUISANDHEXQNTWLDXTZPLSXEOSTUSDHNTNEOKCSKAVAGNOAXSCAKEUSDPCROBITEGLDOPAPEAAVEBTGCFXNEXOCELOPAXENSRPLUSDDXRDCRVBGBFRAXLPTGLAIMUSEUMLUNCSNXBTTCQTUMZECGMXXAUTCSPRILVMINADASHFXSDCRMASKKSMCVXTWTXDCGTANTPAXGAZEROSFPBALROSE1INCHMSOLOCEANGUSDXCHALUSDCCXXDFISXPBONELUNAGMTASTRJASMYsUSDYFISCXLCXNXMONEACHWINHTIMXHBTCOHMLENDMLNRUNESAFEUSDEURGBP

USD

USDEURGBPBTCETHUSDTBNBSOLXRPUSDCADADOGEAVAXSHIBTONSTETHLINKWBTCUNIBCHNEARLTCICPFILMATICDAIETCDOTATOMBUSDAPTINJSTXRNDROKBPEPELEOFDUSDTHETALDOXMRTONCOINARBARFLOWMKRPLSBSVBTCBSUISANDHEXQNTWLDXTZPLSXEOSTUSDHNTNEOKCSKAVAGNOAXSCAKEUSDPCROBITEGLDOPAPEAAVEBTGCFXNEXOCELOPAXENSRPLUSDDXRDCRVBGBFRAXLPTGLAIMUSEUMLUNCSNXBTTCQTUMZECGMXXAUTCSPRILVMINADASHFXSDCRMASKKSMCVXTWTXDCGTANTPAXGAZEROSFPBALROSE1INCHMSOLOCEANGUSDXCHALUSDCCXXDFISXPBONELUNAGMTASTRJASMYsUSDYFISCXLCXNXMONEACHWINHTIMXHBTCOHMLENDMLNRUNESAFE

1

USDC =

1.00

USD

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USD Coin (USDC): Definition, How It Works in Currency, and Value

USD Coin (USDC): Definition, How It Works in Currency, and Value

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Table of Contents

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Table of Contents

What Is USD Coin (USDC)?

Understanding USCD

Advantages and Disadvantages

Use Cases

FAQs

The Bottom Line

Cryptocurrency

Altcoins

USD Coin (USDC): Definition, How It Works in Currency, and Value

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What Is USD Coin (USDC)?

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a tokenized U.S. dollar, with the value of one USDC coin pegged as close to the value of one U.S. dollar as it can get. The value of USDC is designed to remain stable, making USDC a stablecoin.

Stablecoins are commonly backed by reserve assets like dollars or euros to achieve price stability. The price stability of USDC contrasts sharply with the notorious price fluctuations of other cryptocurrencies like Bitcoin and Ethereum.

Keep reading to understand more about USDC, including how it works and the various use cases for the digital currency.

Key Takeaways

USD Coin (USDC) is a cryptocurrency that is backed by fiat money, making it a stablecoin.USDC reserve assets are held in segregated accounts with U.S.-regulated financial institutions.The U.S. government does not issue USDC.

Understanding USD Coin (USDC)

USD Coin (USDC) is a stablecoin, a cryptocurrency backed by U.S. dollars or dollar-denominated assets like U.S. Treasury securities. USDC's reserve assets are held in segregated accounts with regulated U.S. financial institutions.

You may be wondering about how USDC maintains the 1:1 peg with the U.S. dollar. If you initiate a transaction to buy one USD Coin using fiat currency, then that fiat currency is deposited and stored as one U.S. dollar, and the new USDC is minted. If you sell a USD Coin in exchange for fiat currency, the USDC is burned (sent to a wallet with no access keys) when the fiat money is transferred back to your bank account.

USDC is compatible with several blockchains, including:

Ethereum

Algorand

Solana

Stellar

TRON 

The accounting firm Deloitte oversees these segregated accounts and provides monthly attestation reports.

USD Coin is managed by Centre, a consortium co-founded by the cryptocurrency exchange Coinbase (COIN), and Circle, a financial technology company. Centre aims to change the global financial landscape by connecting every person, merchant, financial service, and currency worldwide.

Advantages and Disadvantages of USD Coin

Pros

Low price volatility

Fully backed by U.S.-regulated reserve assets

Can be used as a hedge against inflation

Cons

No price appreciation

Mix of reserve assets not fully disclosed

Not immune to U.S. dollar price inflation

Use Cases for USD Coin

As a price-stable digital asset, USDC can be used in several ways:

Hedge against volatility: Investors exposed to other cryptocurrencies can reduce their portfolios' volatility by strategically buying a stablecoin like USDC. Owning USDC during periods of significant market volatility can help to stabilize a portfolio's value.

Pricing in fiat money: Digital assets listed on cryptocurrency exchanges can be priced in fiat money using a stablecoin like USDC.

Stable price-pegging: The price stability of USDC enables the stablecoin to represent equity ownership or fund investments. USDC can also be used to represent liabilities or debt.

Remittances: USDC can be used to send funds across borders. Recipients can store USDC without using a bank account or being concerned about price volatility.

U.S. dollar exposure: Non-U.S. investors wishing to gain exposure to the U.S. dollar can add USDC to their cryptocurrency investment portfolios.

Hedge against inflation: Non-U.S. investors concerned about inflation of their local currency can hold a stablecoin like USDC to help protect the value of their money.

Global crowdfunding: Startup companies and nonprofit organizations can raise money from investors and donors worldwide by soliciting digital currency. Raising funds in the form of a stablecoin like USDC ensures that the value of the money raised does not fluctuate over time.

Blockchain interconnection: Since USDC is compatible with several autonomous blockchains, USDC can be a way to integrate payment systems and applications across blockchains.

What Type of Stablecoin Is USD Coin?

USD Coin (USDC) is a fiat-collateralized stablecoin, meaning that USDC tokens are collateralized by fiat money like U.S. dollars. Other stablecoins types include those collateralized by a cryptocurrency, an algorithm, or a hybrid approach.

Is Investing in USD Coin Risky?

As a cryptocurrency, USD Coin (USDC) is generally considered risky as an investment. While stablecoins like USDC have less price volatility than other cryptocurrencies, stablecoins may be subject to increased scrutiny by regulatory agencies like the U.S. Securities and Exchange Commission. There is a business behind USDC also, so it must function well for the coin to remain pegged to the dollar.

Can I Buy Less Than $1 of USD Coin?

You can buy fractions of USD Coin just like you can divide U.S. dollars into pennies. You can purchase as little as 0.001—equal to one-tenth of a cent—of USD Coin.

The Bottom Line

USD Coin is a stablecoin backed by a reserve of U.S. fiat currency. For each USDC in circulation, there is one dollar held in reserve. However, USDC's price fluctuates many times throughout the day (often by the minute), as much as $0.9993. This isn't much compared to other cryptocurrencies, but it demonstrates that while the coin is relatively stable, it isn't a 1:1 peg 100% of the time—from Sep. 5, 2022, to Aug. 21, 2023, it averaged $0.9998.

The coin is also susceptible to external influences—when Silicon Valley Bank collapsed, it became apparent that about 8% of USDC reserves were held at the bank, causing the coin to lose its peg.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our

editorial policy.

Coinbase. "Introducing USD Coin (USDC) - Stablecoin By Coinbase."

Centre. "Whitepaper," Pages 10-11.

Circle. "The Power of USDC Brought to Multiple Blockchains."

Deloitte. "Independent Accountant's Report."

Coinbase. "USD Coin (USDC)."

Chainalysis. "Here’s What On-Chain Data Tells Us About Crypto’s Reaction To the Demise of Silicon Valley Bank And Its Impact on USDC."

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