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Frequently Asked Questions

What is USDC (USDC)?

As an open standard and public smart contract, USDC has rapidly grown the largest stablecoin industry ecosystem in the world. Hundreds of companies, products and services support the USDC standard, including digital wallets, exchanges, DeFi protocols, savings, lending and payment services.

What is a USDC coin?

On Coinbase, eligible customers can earn rewards for every USD Coin they hold. For customers with a US dollar bank account, 1 USDC can always be redeemed for US$1.00, giving it a stable price. Each USDC is backed by one US dollar, which is held in a bank account.

What is the USDC exchange?

USDC is the bridge between dollars and trading on cryptocurrency exchanges. The technology behind CENTRE makes it possible to exchange value between people, businesses and financial institutions just like email between mail services and texts between SMS providers.

What is USDC backed by on circle?

Circle claims that each USDC is backed by a dollar held in reserve, or by other "approved investments", though these are not detailed. The wording on the Circle website changed from the previous "backed by US dollars" to "backed by fully reserved assets" by June 2021.

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