USD Coin

USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum, Stellar, Algorand, and Solana blockchains.[1][2][3] Each USDC is backed by a dollar held in reserve, and USDC reserves are regularly audited by Grant Thornton, LLP.[4] USD Coin is managed by a consortium called Centre,[5] which was founded by Circle and includes members from the cryptocurrency exchange Coinbase[6] and Bitcoin mining company Bitmain,[5] an investor in Circle.[7]

USD Coin
Ticker symbolUSDC
Development
White paper[1]
Websitewww.centre.io/usdc
Block explorerEtherscan.io

USDC was first announced on the 15th of May 2018 by Circle,[4] and was launched in September of 2018.[8] As of April 2021, $12 billion[9] USDC are in circulation.[10]

On March 29, 2021, Visa announced that it would allow the use of USDC to settle transactions on its payment network.[11]

ReferencesEdit

  1. ^ "USDC for Algorand now available in your Circle Account". www.algorand.com. Retrieved 2021-03-14.
  2. ^ Consortium, Centre. "Centre Consortium Announces Algorand as an Official Chain for USDC, Launches on Mainnet". www.prnewswire.com. Retrieved 2021-03-14.
  3. ^ "Circle | Multichain USDC — The power of USDC brought to multiple blockchains". www.circle.com. Retrieved 2021-04-17.
  4. ^ a b Irrera, Anna (2018-05-16). "Circle raises $110 million, plans to create dollar-pegged cryptocurrency". Reuters. Retrieved 2020-06-06.
  5. ^ a b Kharif, Olga (2018-09-26). "Circle Joins Ranks of Stable Crypto Coins With Dollar Token". Bloomberg News.
  6. ^ Geron, Tomio (2019-06-11). "Why Stablecoins Stand Out in the Cryptocurrency World". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-06.
  7. ^ Arnold, Martin (2018-05-15). "China bitcoin miner Bitmain leads $110m investment in Circle". Financial Times. Retrieved 2020-06-06.
  8. ^ Kharif, Olga (2018-10-29). "Stable Coin Backed by Circle, Coinbase Draws Most Early Demand". Bloomberg News. Retrieved 2020-06-06.
  9. ^ https://www.circle.com/en/usdc
  10. ^ https://coinmarketcap.com
  11. ^ Hussain, Noor Zainab (29 March 2021). "Exclusive: Visa moves to allow payment settlements using cryptocurrency". Reuters.

External linksEdit