USD Coin
USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum blockchain and the Algorand Blockchain[1][2]. Each USDC is backed by a dollar held in reserve.[3] USD Coin is managed by a consortium called Centre,[4] founded by Circle and including cryptocurrency exchange Coinbase[5] and Bitcoin miner company Bitmain,[4] which is an investor in Circle.[6] USDC was first announced 15 May 2018 by Circle,[3] and launched in September 2018.[7]
As of March 2021, $9 billion USDC were circulating.[8]
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