USD Coin is a stablecoin backed by US dollars, which are held in reserve by regulated financial institutions. USD Coin is managed by Centre, which acts as the central issuer.
Calculate how much you can earn by staking USD Coin. Results vary based on the staking amount, term, and type selected.
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- What type of Stablecoin is USDC?
- Will USDC always be equal to $1?
- How is USDC different from a CBDC?
USDC is a FIAT-Backed Stablecoin.
For every $1 of USDC in circulation, Circle holds $1 of USD. USDC is fully-backed by cash and short-dated U.S. treasuries, and these reserves are held in the custody of leading financial institutions.
There will be times when the quoted price on exchanges may trade above or below $1, but this is usually speculation based on market volatility and does not mean that USDC is not backed by $1 of FIAT currency.
USDC is issued by Circle, a company in the private sector, while a CBDC would be issued by a government. While most CBDCs are only in the research phase, USDC exists today and is widely used by millions of people around the world. Circle has developed the technology to enable USDC to run on over eight public blockchains, with open-source and private market innovation driving rapid progress in dollar digital currency models.
Read more about Circle’s insights on the Federal Reserve’s CBDC discussion.