USDC stands for USD Coin, which is a stablecoin cryptocurrency pegged to the US dollar on a 1:1 ratio. It is used as a digital asset in the cryptocurrency market for trading, storing value, and transferring funds. The base of USDC is the US dollar, meaning that each USDC token is backed by one US dollar held in reserve. This ensures the stability and reliability of USDC as a stablecoin.
