USDC
USDC is a fully backed, widely adopted stablecoin pegged to the U.S. dollar, trusted for stability and interoperability across blockchains. Supported by Circle’s regulated infrastructure and public-market funding, it provides a transparent and scalable bridge between fiat and crypto.
USD Coin (USDC) is a regulated, fully-reserved stablecoin designed to maintain a 1:1 peg with the U.S. dollar. Launched in September 2018 by Circle, each USDC is backed by one U.S. dollar or equivalent assets held in segregated, regulated accounts. The reserves are subject to monthly third-party attestations to ensure transparency, and consist of cash and short-duration U.S. Treasury instruments.
USDC is available across major blockchains—starting on Ethereum (ERC-20) and expanding to Solana, Algorand, Stellar, Polygon, Tron, and others—making it highly interoperable and accessible for decentralized finance, payments, remittances, and cross-border commerce.
How It Works
When users deposit U.S. dollars with Circle, an equivalent amount of USDC is minted. Redeeming USDC burns the tokens and releases the corresponding fiat. Assets are held in regulated U.S. institutions and monitored through regular attestations, although full audits are not yet performed.
USDC is designed as a stable, programmable digital dollar, enabling fast, low-cost, and global transfers. It is suited for trading, online payments, institutional settlements, and programmable finance.
Adoption & Scale
As of 2025, USDC has around 60 billion tokens in circulation, making it the second-largest stablecoin after USDT. Since launch, it has processed over 25 trillion dollars in on-chain volume.
In June 2025, Circle went public on the New York Stock Exchange under the ticker CRCL, raising over 1.1 billion dollars. The company’s revenue grew from 15 million in 2020 to over 1.7 billion in 2024, primarily from interest earned on reserves.
USDC accounts for approximately 24% of the total stablecoin market and is widely used in institutional DeFi, payment networks, and tokenized dollar infrastructure.
Strengths & Risks
Strengths:
- Fully backed by high-quality reserves
- Transparent reporting and regulatory oversight
- Broad multi-chain compatibility and institutional use
Risks:
- Regulatory changes could affect issuance and adoption
- Exposure to interest rate environments and reserve performance
- Reliance on attestations rather than full independent audits
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