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What is USDC (USDC)?

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a tokenized U.S. dollar, with the value of one USDC coin pegged as close to the value of one U.S. dollar as it can get. The value of USDC is designed to remain stable, making USDC a stablecoin.

What is USDC +0.10%?

A guide to Circle's stablecoin USDC +0.10% is a type of digital currency known as a stablecoin. It was first issued by the Centre Consortium, a collaboration between Circle and Coinbase, two key players in the cryptocurrency market.

How does USDC work?

Essentially, whenever a dollar is deposited, a USDC token is created. Then, when a customer wishes to redeem USDC back for dollars, the USD Coins are permanently destroyed with a view to keeping a consistent backing. Here's how the financial institution responsible for oversight of USDC explains the technical process.

What is a USDC token?

As the name suggests, fiat-collateralized currencies are backed by a sovereign currency, such as the U.S. dollar or the British pound. To maintain USDC’s stable value equal to $1, USDC is backed by cash and short-term U.S. government bonds as collateral. For every USDC token in circulation, $1 is held in collateral.