USD Coin

What is USD Coin?

USD Coin (USDC) is a well-known altcoin. It is a digital currency that has total backing from assets denominated in dollars. USDC is a tokenized version of the dollar since the value of one USDC coin is the same as the value of one US dollar. Since USDC is a stablecoin, its value should never change.

If you start a transaction to purchase a single USD Coin using fiat money, the fiat money is deposited and held as one US dollar, and a fresh batch of USDC is created as a result. When you exchange a USD Coin for fiat money, the USDC is destroyed when the fiat money is returned to your bank account. Several blockchains, including Ethereum, Algorand, Solana, Stellar, and TRON, are interoperable with USDC.