What is USDC? Total issuance of USDC coins and introduction to the white paper

USD Coin (USDC), a stablecoin pegged to the US dollar, boasts a market capitalization of approximately $33.5 billion as of August 2023, making it the second-largest in its category.

Sep 30, 2024 at 07:53 pm

What is USDC?

USD Coin (USDC) is a stablecoin pegged to the US dollar. It was created by a consortium of companies led by Coinbase and Circle in 2018. USDC is designed to be a medium of exchange that is more stable than cryptocurrencies like Bitcoin, which can experience significant price fluctuations.

USD Coins are backed by 1:1 in US dollars, which are held in reserve by regulated financial institutions. This means that each USDC token is redeemable for $1.00.

Total Issuance of USDC Coins

As of August 2023, there are approximately 33.5 billion USDC in circulation. This makes USDC the second-largest stablecoin by market cap.

USDC White Paper

The USDC white paper was published in September 2018. It provides an overview of the USDC project, including the following:

The purpose of USDC
The design of USDC
The regulation of USDC
The uses of USDC

The USDC white paper is an important resource for anyone who wants to learn more about USDC. It is available to read on the USDC website.

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