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. Each USDC is backed by a dollar held in reserve, and USDC reserves are regularly audited by Grant Thornton, LLP. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.
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