{{ currency }}

USD Coin (USDC) is a digital currency backed entirely by US dollar assets. USDC is a tokenized US dollar, with one USDC coin worth exactly one US dollar. USDC's value is intended to be steady, making it a stablecoin. To achieve price stability, stablecoins are often backed by reserve assets like as dollars or euros. The price stability of USDC stands in stark contrast to the renowned price volatility of other cryptocurrencies such as Bitcoin and Ethereum. Despite its name, USDC is not issued or guaranteed by the United States government. USDC is an open-source project, which means that anybody may read and contribute to its code.

The reserve assets of the USDC are stored in separate accounts with authorized US financial institutions. Grant Thornton, an accounting company, manages these segregated accounts and delivers monthly attestation reports. You might be wondering how USDC maintains its 1:1 peg to the US currency. If you use fiat cash to buy one USD Coin, the fiat currency is deposited and kept as one US dollar, and the new USDC is produced. When you trade a USD Coin for fiat cash, the USDC is burnt when the fiat money is deposited back to your bank account. Good news is that the USD coin is compatible with multiple blockchains, including:

-        Algorand

-        Ethereum

-        Stellar

-        Tron

-        Solana

Advantages and disadvantages

One of the biggest advantages of coins like this is low price volatility. Which, on the other hand can be also a bad thing if you are looking for a quick trading.

The biggest disadvantage in this case would be, that the USDC is not immune to the U.S. dollar price inflation. Meaning, if the value of dollar will fall, it will take the value of USDC with it.


The Centre consortium, a collaboration between Circle and Coinbase, created USD Coin. Centre created the technology and the governance structure, while Circle and Coinbase were the initial commercial issuers of USDC. Circle was formed in 2013 by Jeremy Allaire and Sean Neville, two entrepreneurs.

Circle is a recognized Money Transmitter, making the firm a transparent financial book. Money transmitters are money service enterprises in the United States that must follow federal rules and regulations. The comparable amount of USD is with one of Circle's certified partners prior to the issuing of USDC. As a result, all USDC coins are governed, transparent, and verifiable. Circle is also known as the Goldman Sachs-backed cryptocurrency business.

Back to list

© 2023 BITmarkets. All rights reserved.
Dark mode
Light mode

🍪 Cookies

We use cookies to store, access and process personal data to give you the best online experience. By clicking Accept Cookies you consent to storing all cookies and ensure best website performance. You can modify cookie preferences or withdraw consent by clicking Cookie Settings. To find out more about cookies and purposes, read our Cookie Policy and Privacy Policy

Cookies settings

Cookie Control

What are cookies?

Cookies are small text files that enable us, and our service provides to uniquely identify your browser or device. Cookies normally work by assigning a unique number to your device and are stored on your browser by the websites that you visit as well as third-party service providers for those website. By the term cookies other technologies as SDKs, pixels and local storage are to be considered.

If Enabled

We may recognize you as a customer which enables customized services, content and advertising, services effectiveness and device recognition for enhanced security
We may improve your experience based on your previous session
We can keep track of your preferences and personalize services
We can improve the performance of Website.

If Disabled

We won't be able to remember your previous sessions, that won't allow us to tailor the website according to your preferences
Some features might not be available and user experience reduced without cookies

Strictly necessary means that essential functions of the Website can not be provided without using them. Because these cookies are essential for the properly working and secure of Website features and services, you cannot opt-out of using these technologies. You can still block them within your browser, but it might cause the disfunction of basic website features.

  • Setting privacy preferences
  • Secure log in
  • Secure connection during the usage of services
  • Filling forms

Analytics and performance tracking technologies to analyze how you use the Website.

  • Most viewed pages
  • Interaction with content
  • Error analysis
  • Testing and Measuring various design effectivity

The Website may use third-party advertising and marketing technologies.

  • Promote our services on other platforms and websites
  • Measure the effectiveness of our campaigns

Manage Cookies

Crypto assets as unregulated, decentralised and highly volatile assets entail substantial risks and you may lose all invested capital.

Check Risk Disclosure for detail risk information.