Who is USDC owned by?

USD Coin (USDC) is a digital currency that maintains a stable value relative to the U.S. dollar. It is issued by CENTRE, a collaborative effort between two prominent companies in the cryptocurrency industry: Coinbase and Circle.

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The purpose of USDC is to provide a reliable and stable alternative to other cryptocurrencies that can experience significant volatility. By being backed by U.S. dollar-denominated assets, USDC aims to offer users a more predictable and dependable store of value.

The assets that back USDC are held in regulated and audited U.S. financial institutions. This ensures that the cryptocurrency is backed by real, tangible assets and not just by the promises of issuers. The audits provide transparency and accountability, further enhancing the credibility of USDC.

CENTRE, the issuer of USDC, is a joint venture between Coinbase and Circle. Coinbase is one of the largest cryptocurrency exchanges in the world, known for its secure and user-friendly platform. Circle, on the other hand, is a global financial technology company that specializes in blockchain-based payments and financial services.