![]() Centre is an open-source platform that was founded by two major players in the world of crypto – Coinbase (crypto exchange) and Circle (peer-to-peer payment service). The USD Coin was initially released in 2018 by the Centre Consortium. Particularly given the fact that USDC coins are more transparent and dependable among crypto fans than USDT tokens, which are somewhat controversial. USD Coin crypto project aims to provide people with an asset that can be used as digital cash in a world that’s becoming more and more digital each day.īesides, USDC is one of the biggest competitors of USDT in the field of stablecoins. ![]() Thus, this means that USDC tokens can be integrated with a huge variety of dApps based on Ethereum.Įssentially, USDC is an alternative to other stablecoins such as Tether (USDT). Since USD Coins are stored on the Ethereum network, they are based on the ERC-20 token model. The monthly attestation reports are published on the Centre website.īesides, if you look at the USD Coin price chart above, you’ll notice that the USDC price is indeed pretty stable. These institutions are audited and checked each month to ensure that they do, in fact, support the active USDC tokens. ![]() Each US dollar that collateralizes USD Coins is stored in regulated financial institutions. USD Coin (USDC) is a smart contract-based stablecoin that is backed by the US dollar. ![]()
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