Can I trust USDC?

Question

One thing to note about USDC is that it is not minted like other cryptocurrencies. Instead, it is issued by accredited financial institutions through a process known as know-your-customer (KYC). This ensures that only legitimate financial institutions can issue USDC and helps to prevent fraud and money laundering.

Answer 1

Yes, you can generally trust USDC because it is issued by accredited financial institutions through a stringent KYC process. This helps ensure that only legitimate institutions can issue USDC, thereby reducing the risk of fraud and money laundering associated with the stablecoin. However, as with any financial instrument, it's important to conduct your own research and due diligence before using or investing in USDC.