USDC, or USD Coin, is a type of stablecoin that is pegged to the US dollar on a 1:1 ratio. It is a cryptocurrency that operates on the Ethereum blockchain, and each USDC token is backed by a corresponding US dollar held in reserve by regulated financial institutions. This backing ensures that the value of USDC remains stable and predictable compared to other cryptocurrencies that are subject to market volatility. Users can acquire USDC by purchasing it on cryptocurrency exchanges or by converting other cryptocurrencies into USDC. USDC can be used for various purposes such as trading on exchanges, making payments, and transferring funds quickly and securely across the globe.
