![]() ![]() For the USD Coin to remain an actual dollar, over time, it is audited. ![]() It is also the only Stablecoin that has support from Coinbase. It uses an Ethereum-blockchain technology ERC-20 token. It is a crypto coin that supports Coinbase and Circle Internet Financial. What is USD Coin?USD Coin is a fiat-backed coin that operates under the value of the U.S. These are just a few basic things you need to understand before you jump on USDC. They play the role of minimizing administrative load and any fees or charges that an investor incurs when converting digital assets into fiat. Stablecoins can only function effectively when more stable assets like fiat currency receive back up. The USDCs that are currently in circulation can be found on the Ethereum blockchain, and are known as ERC-20 tokens A Bit About USD Coinīefore you can understand the full dynamics of USDC, you need first to grasp the concept of stablecoins. The consortium that manages USDC is a peer-to-peer (P2P) services company called Centre and was founded by two members, Circle, and also by Coinbase cryptocurrency exchange coinbase. USDC is issued by a private entity and is not a central bank digital currency. Popularly identified by the ticker USDC, USD Coin is a digital stablecoin that is pegged to the United States Dollar on a 1:1 basis, meaning that every single unit of this cryptocurrency is backed by $1 in terms of cash reserves or treasury bonds. ![]()
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