USD Coin (USDC) is a digital dollar stablecoin issued by Circle and backed by the US Dollar. USDC is fully collateralized 1:1 by USD held in accounts at FDIC-insured banks. This ensures that each coin always has $1 USD of real value backing it. USD Coin is issued by the US-based company Circle, which is backed by Goldman Sachs.
USDC was created in order to provide a more transparent and efficient way to store value in cryptocurrency exchanges. The token is based on the Ethereum blockchain and uses ERC20 technology. USDC is also convenient for use in trading, as it allows you to quickly and easily convert between fiat currency and cryptocurrency.
USD Coin is the second-largest stablecoin by market capitalization and is in the top 5 cryptocurrencies by market cap. The token has a circulating supply of over 50 billion dollars and a 24-hour volume of over 4 billion dollars.