USDC (USD Coin) is a stablecoin, a cryptocurrency pegged to the US dollar.
It was created in 2018 by Circle and Coinbase, two leading fintech companies. USDC is built on the Ethereum blockchain and is an ERC-20 token.
The purpose of USDC is to provide a more stable form of cryptocurrency that is not subject to the same fluctuations and volatility that other cryptocurrencies, such as Bitcoin, experience. USDC is backed by actual US dollars held in reserve, ensuring that for every USDC token issued, there is a corresponding dollar in reserve.
USDC can be used for a variety of purposes, including making purchases, paying bills, trading, and more. Because it is pegged to the US dollar, it provides a stable store of value for individuals and businesses.