About USD Coin

USD Coin (USDC) is a stablecoin designed to keep its value close to $1. Founded in 2018 by CENTRE, which was created by noteworthy companies Coinbase and Circle, USDC has been successful in keeping its price near the assigned peg of one dollar.

USDC, a token based on the ERC-20 standard of Ethereum was created to be used more extensively in decentralized finance (DeFi) applications like Compound and Aave. It has also been accepted as collateral for Dai in MakerDAO’s network, proving its reliability and trustworthiness throughout numerous platforms.

USD Coin is a centralized stablecoin that relies on reserves held by its issuer to maintain value. At the time of this writing, Circle reported all USDC’s backing was made up of cash and short-term U.S government obligations. Those seeking to convert their USDC into USD can do so at any time with an exchange rate always very near 1 dollar per coin, redeemable directly from the coin’s issuer on a 1:1 basis.

Each month, the issuer of USD Coin releases an attestation by accounting firm Grant Thornton LLP, showing that the issuer holds enough US dollars to back all of the circulating USDC tokens on a 1:1 basis. You can view all the attestations released so far on the official CENTRE website.

USDC is built to offer the advantages of blockchain technology, such as efficient and rapid global transactions 24/7 with no price fluctuations. Yet it’s vital for users to bear in mind that USDC and other stablecoins are issued by a centralized body who has full control over blacklisting addresses or freezing tokens.

Here are a few of USDC’s most critical features that you need to know about:

  •    Launched in 2018 by CENTRE
  •    Initially launched as an ERC-20 token on the Ethereum blockchain
  •    Reserve-backed stablecoin, can be converted to USD on a 1:1 basis
  •    Used in decentralized finance protocols and on centralized crypto exchanges
  •    Available on 8 blockchain platforms

After Tether’s USDT token earned acclaim in the crypto market, USD Coin was rolled out to vie for a stake. Furthering this competition, several other stablecoins also debuted in 2018–namely Pax Dollar (PAX), TrueUSD (TUSD) and Gemini Dollar (GUSD). All of these issuers strived to gain an edge over their rival with utmost transparency regarding the holdings backing up each token, hence ensuring more trustworthiness.

Heads above its peers, USD Coin continues to set the standard among 2018’s stablecoins. Even if USDT still retains a majority of market capitalization and trading volume, USDC has positioned itself within the upper echelon of digital assets based on market cap.

USD Coin (USDC) is a digital form of currency that functions as an alternative to fiat money on cryptocurrency exchanges. USDC has multiple applications and operates as a token across many blockchain systems, making it ideal for use in decentralized protocols like Uniswap, Compound and Aave, or NFT marketplaces such as OpenSea.

Compared to other crypto assets, such as Ethereum (ETH), USD Coin holds its value steadily. This makes it perfect for payments; many companies and individuals favor stable cryptocurrencies in order to bypass the price instabilities connected with more common digital currencies. USDC is a blockchain-based asset that provides users with just this kind of peace of mind: protection from market volatility!

As one of the initial members of CENTRE consortium, Circle has created a range of products built on USDC stablecoin: from payments infrastructure to fixed income products and an API suite. With this innovative selection, your business can make quick and secure transactions with ease!

The developers of USDC

The developers of USDC, a stablecoin created to bring the benefits of blockchain technology to global payments, are a diverse and experienced group. The development team is led by two companies: Circle and Coinbase.

Circle is a digital asset platform that provides users with access to digital asset services including lending, over-the-counter trading and investing. Founded in 2013, the company has raised more than $250 million from investors such as Goldman Sachs, Bank of America Merrill Lynch and Jim Breyer. Circle’s mission is to create an open financial system for people everywhere in the world.

Coinbase is a digital currency exchange founded in 2012 that allows users to buy and sell Bitcoin, Ethereum, Litecoin and other cryptocurrencies with fiat currency or bank transfer. Coinbase also offers custodial services for institutional investors. Coinbase was valued at $8 billion following its 2017 Series E funding round which raised $100 million from investors such as Andreessen Horowitz and Union Square Ventures.

Together, Circle and Coinbase have years of experience developing consumer products related to blockchain technology such as wallets, exchanges and trading platforms. In addition to their combined expertise in this area, they also have strong backgrounds in financial regulation compliance which gives them an advantage when it comes to developing products related to stablecoins like USDC. They also have experience working with international partners around the world which will help them ensure that USDC is available in more countries than other existing stablecoins.

The development team behind USDC consists of engineers from Circle and Coinbase who specialize in product development, cryptocurrency engineering and security engineering. This team works closely together on every aspect of the project including designing features for USDC wallets, developing smart contracts for transactions between wallets and exchanges as well as ensuring that USDC meets all applicable regulatory requirements around the world. The engineers on this team come from various backgrounds ranging from mathematics to software engineering so they can bring a wide range of perspectives when solving difficult problems related to developing USDC’s infrastructure.

Overall, Circle and Coinbase have assembled a talented group of developers who are passionate about bringing the benefits of blockchain technology to global payments through creating USDC – a secure digital asset backed by fiat currency held by regulated banking institutions around the world. This team brings years of experience in cryptocurrency engineering as well expertise in financial regulation compliance which puts it ahead of its competitors when it comes to developing innovative uses for stablecoins like USDC globally.

In addition, these developers have an established network of partners around the world who can help them expand USDC’s reach and ensure its availability in multiple countries. This group’s collective experience makes it well suited for developing a stablecoin that could be used by people everywhere to transact securely and quickly. With their expertise and dedication to creating a safer global payments system,Circle and Coinbase are sure to bring USDC to the forefront of digital currencies.

The development team behind USDC takes security extremely seriously. The engineers on this team have years of experience in building secure systems with both cryptographic and legal safeguards so they understand how important it is protect users’ assets when designing new products related to blockchain technology. The team is continuously researching and developing new solutions to ensure USDC remains secure and compliant with existing laws and regulations around the world.

Circle and Coinbase have a shared vision of making USDC the go-to stablecoin for people everywhere in the world. With their combined experience, dedication to security, and established network of partners, there’s no doubt that they will succeed in achieving this goal. We are excited to see what these two companies can accomplish together as USDC continues to grow and become more widely adopted by individuals, businesses, exchanges and payment services providers around the world.

Achieving success with USDC requires Circle and Coinbase to work closely together over the coming years as they face many new challenges and opportunities. With their combined expertise in financial regulation compliance, cryptocurrency engineering, product development, security engineering, mathematics and software engineering – there is no doubt that this team will continue to innovate and create a revolution in global payments with USDC. We look forward to seeing the amazing things they can do together in the future.

Thank you for your time! I hope you found this information helpful as you learn more about Circle and Coinbase’s vision for creating USDC – a secure digital asset backed by fiat currency held by regulated banking institutions around the world. With their talented development team of engineers and established network of partners, we are confident that USDC will become the go-to stablecoin for people all over the world.

USDC circulating supply

As more tokens are minted, the USDC supply grows and likewise decreases when users exchange their USDC for USD. In 2020, this demand accelerated significantly as businesses around the world began to adopt USD Coin which quickly became known as the second-largest stablecoin by market capitalization.

The USDC price has held up amazingly close to its intended $1 peg, resulting in the USDC market cap chart looking quite similar to that of the circulating supply.

To gain insight into the remarkable success of USDC crypto, let’s take a look at some significant landmarks this stablecoin has achieved over time.


  • 50 million: The supply of USDC first exceeded 50 million in October 2018
  • 100 million: The first time that the supply of USDC exceeded 100 million was in October 2018
  • 500 million: USDC hit a supply of 500 million for the first time in December 2019
  • 1 billion: The first time that USDC reached a supply of 1 billion was in July 2020
  • 5 billion: The supply of USDC first surpassed 5 billion in January 2021
  • 10 billion: The first time that USDT hit a supply of 10 billion was in March 2021
  • 50 billion: USDC reached a supply of 50 billion for the first time in February 2022

USDC is available on a variety of blockchain platforms

USDC stands out from the rest with its accessibility across 8 unique blockchain platforms. Initially, USDC was only available on Ethereum but since then this cryptocurrency has exponentially grown and is now supported by an ever-expanding list of blockchains! Here’s a look at all the blockchains that have adopted USDC:

  • Ethereum
  • Algorand
  • Avalanche
  • Flow
  • Hedera Hashgraph
  • Solana
  • Stellar
  • TRON

Ethereum is the most commonly accepted blockchain for USD Coin, and many crypto exchanges and DeFi protocols accept Ethereum based USDC. But if your service of choice also has options to use other blockchains like Solana or Stellar for depositing/withdrawing USDC coins, you could potentially save on transaction fees! Make sure to verify which ones are supported by the platform that you’re using.