USD Coin (USDC)

USD Coin (USDC) is a fiat-backed stablecoin launched by Centre, a governed network powered by price-stable crypto assets. Founded by Coinbase and Circle in 2018, the Centre aims to provide governance and standards for the future digital financial ecosystem. USDC is currently the second-largest stablecoin in the market, and its standards ensure trust and transparency for users operating in the digital payments landscape.

Centre’s open network protocols are available for global developer contributions. These protocols support currency transmittal, trust and identity decisions, settlement rules, and secure KYC/AML exchange. Bootstrapped by contributions from founding members Circle and Coinbase, the Centre’s protocols are already in production, serving millions of customers worldwide. The Centre is a decentralized and independent organization that manages software implementation, support, governance, and ongoing research and development for the project.

USD Coin is issued by regulated and licensed financial institutions, ensuring full reserves of the equivalent fiat currency back it. It is available on multiple blockchain platforms, including Ethereum, Algorand, Avalanche, Flow, Hedera, Solana, Stellar, and TRON. Centre’s philosophy is driven by the belief that a more inclusive global economy can be created by removing artificial economic borders. Transparency is a key value for the Centre, with management assertions related to the total USDC in circulation regularly attested to and published, ensuring that USDC is always redeemable for dollars.