Is USDC backed by cash?

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Is USDC backed by cash?

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Muzzammil56 · Answer 1 · 2024-03-19T21:19:45+0000

Yes, USDC (USD Coin) is a stablecoin that is fully backed by a reserve of cash and short-term U.S. Treasury bonds, which ensures that each USDC token is redeemable for one US dollar.

Muzzammil56 · Answer 2 · 2024-03-20T12:31:52+0000

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

Is USDC backed by cash?

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