Usd Coin  USDC Price & Markets

USDC (or US Dollar Coin) is a type of cryptocurrency, specifically a stablecoin, created by CENTRE, an open-source project backed by leading companies in the digital finance industry such as Circle and Coinbase. It is built on Ethereum’s blockchain technology and pegged 1:1 to the US dollar. This means that 1 USDC is always equal to $1 USD (as long as the peg is maintained).

The purpose of creating such a token was to bring more stability and trust into the world of cryptocurrencies. Unlike other crypto tokens which can be highly volatile due to their decentralized nature, USDC uses Ethereum's smart contracts technology which allows it to stay pegged with an asset like that of USD which minimizes volatility.

Furthermore, since it is tied directly with USD reserves held in accounts audited by Friedman LLP., users are provided additional security when using this coin for transactions or transfers; they know exactly what their money holds and how much value each token really has.

Additionally, this helps reduce counterparty risk because users do not have to worry about trusting third parties but can instead trust CENTRE’s auditors with banking relationships around the globe who vouch for its authenticity.

Finally, since this coin follows KYC/AML protocols issued by FinCEN it adds even more legitimacy to transactions conducted through its network making sure all members adhere strictly to regulatory boundaries thus preventing any fraudulent activities from happening on its platform.

All these benefits make USDC one of the most preferred fiat-backed stablecoins available today!