Question

Is USDC backed by cash?

Answer 1

USDC is a digital dollar backed 100% by highly liquid cash and cash-equivalent assets and is always redeemable 1:1 for US dollars. A portion of the USDC reserve is invested in the Circle Reserve Fund (USDXX), an SEC-regulated money market fund managed by BlackRock.

Answer 2

Yes, USDC (USD Coin) is a stablecoin that is backed 1:1 by US dollars held in reserve. This means that for every USDC token in circulation, there is an equivalent amount of US dollars held in custody to back its value.