USD Coin (USDC): USD Coin is a stablecoin pegged to the US dollar, meaning that its value is designed to remain stable at a 1:1 ratio with the US dollar. Launched in 2018, USDC is an Ethereum-based cryptocurrency token governed by the Centre Consortium, a collaboration between Coinbase and Circle. The primary purpose of USDC is to provide a digital alternative to traditional fiat currencies, offering users the benefits of blockchain technology such as fast and low-cost transactions while maintaining price stability. USDC is widely used for various applications, including remittances, payments, trading, and as a stable medium of exchange in the cryptocurrency market. It is backed by fiat reserves held in regulated banks, ensuring transparency and trustworthiness. Many cryptocurrency exchanges and platforms support USDC trading pairs and accept USDC deposits and withdrawals.
