What is USD Coin (USDC)?
USD Coin (USDC) is a stablecoin pegged to the US dollar at a 1:1 ratio and is designed to remain stable regardless of cryptocurrency market conditions.
As a fully backed stablecoin, it holds US dollar asset reserves in regulated US financial institutions. These reserves are overseen by the accounting firm Grant Thornton, which publishes monthly attestation reports.
USDC is compatible with a number of different blockchains, including Ethereum, Algorand, Solana, Stellar, and TRON. USDC is the number two stablecoin, but it is among the Top 10 cryptocurrencies by market capitalization at the time of writing.
The coin provides users with a number of use cases, such as portfolio balancing, hedging against volatility, pricing in fiat currency, fast international remittances, peer-to-peer (P2P) payments, and payment interoperability across different blockchains.
In December 2024, Circle and Binance joined forces to promote global USDC and cryptocurrency integration. Binance plans to expand USDC availability across its products and services, providing over 240 million users worldwide with access to USDC for trading, savings, and payment solutions. Additionally, Binance aims to adopt USDC as the primary dollar stablecoin for its corporate treasury operations.
USDC has entered a number of notable partnerships, including Visa, Mastercard, and Twitter. USDC price is updated and available in real-time on Binance.