USDC is a regulated digital currency designed for rapid global payments, fully backed by US dollars.

USDC is redeemable 1:1 for US dollars and operates on multiple public blockchain networks.

What are the key features of USDC?

USDC is a fully reserved stablecoin that ensures each coin is backed by a US dollar.

What are the risks associated with using USDC?

Users should verify contract addresses and handle private keys to mitigate risks.

Where can I find more information about USDC?

You can explore more about USDC on the official Circle website.

How can I verify my USDC transactions?

Ensure to verify the asset name and network before transferring USDC.

USDC (USDC)

Rank #5

Market snapshot

Price: $0.999928
Market cap: $72.5B
24h volume: $17.9B
Circulating supply: 72,474,558,742.7628
Total supply: 72,474,558,742.7628
Max supply: N/A

What is USDC?

USDC, or USD Coin, is a stablecoin that aims to maintain a steady value by being fully backed by US dollars. It is designed for efficient and secure transactions in 24/7 financial markets, allowing users to redeem it at a 1:1 ratio for US dollars.

How USDC works

USDC operates on multiple public blockchain networks, enabling seamless transactions. It is redeemable 1:1 for US dollars, leveraging blockchain technology for speed and security. Circle has developed the infrastructure to support USDC's functionality across various platforms, enhancing its interoperability.

Key information

Symbol: USDC
CMC rank: #5
Network / platforms: Algorand, Aptos, Arbitrum, Arc
Categories: N/A
Date added: Oct 8, 2018

Contract address

Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.

Algorand
31566704
Aptos
0xbae207659db88bea0cbead6da0ed00aac12edcdda169e591cd41c94180b46f3b
Arbitrum
0xaf88d065e77c8cC2239327C5EDb3A432268e5831

Key characteristics

USDC is an open-source stablecoin. It is fully reserved, meaning every USDC issued is backed by a corresponding US dollar held in reserve. This design allows for secure and efficient transactions across different blockchain ecosystems.

Documented uses

Explore our Developer Console to see how you can integrate Circle solutions for your use case.

Official resources

Risks

Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.

Transfer and custody notes

Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.

FAQ

What is USDC?: USDC is a regulated digital currency designed for rapid global payments, fully backed by US dollars.
How does USDC work?: USDC is redeemable 1:1 for US dollars and operates on multiple public blockchain networks.
What are the key features of USDC?: USDC is a fully reserved stablecoin that ensures each coin is backed by a US dollar.
What are the risks associated with using USDC?: Users should verify contract addresses and handle private keys to mitigate risks.
Where can I find more information about USDC?: You can explore more about USDC on the official Circle website.
How can I verify my USDC transactions?: Ensure to verify the asset name and network before transferring USDC.

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