![]() The reserve that backs the value of USDC is audited on a monthly basis by American accounting firm Grand Thornton for transparency.Īlthough it was originally an ERC-20 token based on the Ethereum blockchain, USDC has evolved to be compatible with 7 more layer 1 blockchains including Solana, Stellar, Algorand, and TRON. USDC stands out among other stablecoins because it is fully collateralized and is subject to regulation. Tokens are bound to their equivalent asset in the reserve by smart contracts which are legally binding agreements executed by a computer program and recorded on the blockchain. What makes USDC so attractive to investors is that each token is pegged to 1 USD, or an equivalent held in reserve. This token falls within the category of a stablecoin, which is a type of cryptocurrency that has its value tied to a reserve asset to reduce volatility in its price. ![]() The USD Coin was first launched in 2018 from an open-source project between fintech company Circle and Coinbase. With more than 100 billion USDC issued and a reported 10,000% growth in 2 years, let’s get you introduced to Bitbuy’s first listed stablecoin! ![]() ![]() Compared to other major cryptocurrencies, stablecoins like USDC have historically faced much less volatility, opening the door for many different applications. Did someone say stablecoin? Bridging the gap between digital and fiat currencies, USD Coins are redeemable 1:1 with the U.S. ![]()
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