The USD Coin (USDC) is a digital stablecoin that is linked to the US dollar. It uses the Ethereum, Stellar, Algorand, and Solana blockchains for its operations.
USDC is one of the world’s largest dollar stablecoin asset by market capitalization, with a total worth of 32 billion USD as of October 2021.
The Centre consortium, which comprises the two primary founder members Circle and Coinbase, was the first to produce USDC. Each USDC token is backed by a reserve of $1 and is audited on a regular basis by Grant Thornton, a renowned accounting firm.
USDC was released in September 2018, and Visa stated in March 2021 that it will make it easier to utilize USDC for settlement on its payment network.