The premiere took place: 2019-02-12
USD Coin (USDC) is a stablecoin (currency designed to minimize price volatility) representing a value of 1 US Dollar (USD) per coin. USD Coin is a faster, safer solution for active crypto trading and better alternative to international wire transfers in US Dollars. It’s also a great way to make deposits on a cryptocurrency exchange, as USDC takes mere moments, while maintaining great level of security.
USD Coin (USDC) is an ERC20 protocol token based on the Ethereum network. Tokens are issued via Circle and Coinbase. Users first must go through the necessary AML procedures (in order to avoid money laundering) then deposit USD into the platform. Tokens are exchanged at a 1:1 rate of USD to USDC, the amount paid out depending solely on the amount deposited.
USD Coin was created by Centre, a stablecoin consortium, and is issued by Circle and Coinbase. The token premiered in September of 2018. It is a top 20 token on CoinMarketCap’s market capitalization ranking and has quickly become the second largest stablecoin in the world.
USDC’s market capitalization as of January 29, 2019 is: 319 196 429 USD.