USD Coin

USD Coin (USDC) is a digital currency that is pegged to the United States dollar. It is a stablecoin, meaning that its value is designed to remain stable and not fluctuate like other cryptocurrencies such as Bitcoin and Ethereum. USDC was created to provide a stable and secure option for users to transact and store value in the cryptocurrency space, without worrying about the volatility that is often associated with other cryptocurrencies. The currency is issued by regulated financial institutions and its supply is backed by the equivalent amount of US dollars held in reserve accounts. This ensures that the value of USDC is always pegged to the value of the US dollar. USDC can be used for a variety of purposes, such as buying and selling goods and services, remittances, and peer-to-peer transactions. It is also widely used in decentralized finance (DeFi) applications and can be traded on various cryptocurrency exchanges.