Date Launched, 26 September 2018
Founders, Jeremy Allaire and Sean Neville
As of today, the live USD Coin (USDC) price stands at $1.00 USD, with a 24-hour trading volume amounting to $2,393,453,488 USD. Our USDC to USD price is continually updated in real-time. Over the last 24 hours, the value of USD Coin has experienced a slight decrease of 0.01%. Currently ranked at #6 on CoinMarketCap, USD Coin boasts a live market capitalization of $26,502,025,376 USD. The circulating supply of USDC coins amounts to 26,497,120,711, while the maximum supply information is not available.
For those interested in purchasing USD Coin at the current rate, the top cryptocurrency exchanges for trading USDC are Binance, WEEX, OKX, Bitrue, and Bybit. Additional exchanges can be found listed on our crypto exchanges page.
What Is USD Coin USDC ?
USD Coin (USDC), denoted by its ticker USDC, is a stablecoin with a fixed 1:1 value pegged to the U.S. dollar. Each unit of this cryptocurrency in circulation is backed by an equivalent $1, securely held in reserve, comprising a combination of cash and short-term U.S. Treasury bonds. The Centre consortium, responsible for this asset, ensures that USDC is issued by regulated financial institutions, instilling trust in its stability and reliability.
Initially introduced on a limited basis in September 2018, USD Coin is aimed at providing “digital money for the digital age,” catering to a world increasingly adopting cashless transactions. The stablecoin has multiple use cases, serving as a safe haven for crypto traders during periods of market volatility. Furthermore, it facilitates businesses in accepting payments through digital assets, while also having the potential to revolutionize various sectors, including decentralized finance and gaming.
The ultimate vision for USDC is to foster an extensive ecosystem where it gains widespread acceptance among wallets, exchanges, service providers, and decentralized applications (dApps). By doing so, it aims to establish itself as a standard digital currency for seamless and efficient transactions in the modern digital landscape.
How Is the USD Coin Network Secured?
All circulating USDCs are ERC-20 tokens, residing on the Ethereum blockchain, and this integration with Ethereum-based applications stands as one of its primary advantages. By being an ERC-20 token, USDC gains seamless compatibility and accessibility within the Ethereum ecosystem, opening doors for various decentralized applications to utilize its functionalities.
As previously mentioned, the stablecoin’s security and trustworthiness stem from its robust mechanism of backing each unit with U.S. dollars held securely in reserve. This transparent reserve verification instills confidence among users, assuring them of the stablecoin’s stability and reliability.