What is usdc

The US Dollar Coin was created in a joint move by Coinbase , the hugely popular cryptocurrency exchange, and Circle , a crypto finance company based in Boston. Circle is backed by several high-profile companies, including Goldman Sachs.

Circle started in as way to send money easily and quickly. Since then, it has expanded into cryptocurrency—raising millions in venture capital and acquiring crypto exchange Poloniex. That title belongs to Tether. But Tether is under intense scrutiny over the state of its finances. It once claimed to have a real dollar in the bank for every Tether in circulation, but an investigation by the New York Attorney General caused it to step back from that claim.

The investigation is still ongoing. That has led to a rise in other US Dollar-backed stablecoins that have more transparent funding and auditing processes. Circle says there is a total supply of four billion tokens in circulation right now. Bridging the Gap between Fiat and Crypto.

By Cryptopedia Staff. The cryptocurrency is backed by U. USDC has a variety of uses in the crypto marketplace, but is commonly deployed in decentralized finance DeFi protocols and by traders. Along with assets like Tether USDT and the Gemini Dollar GUSD , USD Coin is part of a broader category of cryptocurrencies called stablecoins , which use a variety of mechanisms — such as pegging their value to fiat currencies or commodities — to help maintain a stable price.

Stablecoins are an essential tool in the dynamic cryptocurrency market, and can help digital asset holders within the crypto ecosystem to benefit from the relative stability of the dollar or of other stable assets.

Each USDC is redeemable for one dollar, and is backed by one dollar or a dollar-denominated asset with equivalent value held in accounts at regulated U. Lordstown and electronics manufacturing giant Foxconn officially released details of a partnership that the EV maker believes will transform it into a long-term player in the sector.

EST Thursday. The worse news is that it seems 3D Systems has only itself to blame for the drop. Experts are worried about this asset. But Suze still likes it. Following the release, an investor conference call was held. Highlights for the year. A bevy of Wall Street analysts followed up by lowering their price targets for the stock, adding to today's pain. According to The Fly, four analysts lowered their price targets for the stock as a result of third-quarter results. The IRS makes inflation adjustments yearly, but this year they coincided with hot October inflation data.

Let's go shopping. Negative headlines have come in rapid fire for the company in recent weeks—and it dramatically missed sales estimates for the third quarter. He exercised 2. As it turns out, moreover, these two things are connected. Go to Centre. Dec nov oct sept aug jul jun may apr mar feb jan. DEC nov oct. Start with a Circle Account. Get Started. Learn More. What blockchains support USDC? What is a stablecoin? A stablecoin is a blockchain-powered digital currency that combines the benefits of open, borderless cryptocurrency with the price stability of traditional fiat currencies.