Entity: USDC
USDC is a stablecoin pegged to the U.S. dollar, issued by Circle and running on various blockchain networks.
USDC
Etymology
USDC stands for USD Coin, a stablecoin meant to track the value of the U.S. dollar.
Definition
USDC is a digital dollar tokenized on various blockchain networks, representing US dollars on the internet and backed 100% by highly liquid assets.
Historical Context
USDC was created by Circle and operates as an Ethereum ERC-20 token, distinct from a central bank digital currency (CBDC).
Cultural Significance
USDC has gained popularity as a stablecoin pegged to the U.S. dollar, providing stability in the volatile cryptocurrency market.
Related Concepts
USDC is related to other stablecoins like Tether (USDT) and TrueUSD (TUSD) that also aim to maintain a 1:1 peg with the U.S. dollar.
See Also
A digital dollar tokenized on blockchain networks, designed to represent US dollars on the internet and backed 100% by highly liquid cash and cash-equivalent assets.