LeoGlossary: USD Coin (USDC)
51
leoglossary
@leoglossary
•
This post is published via LeoFinance.
1 min read
USDC is an open source stablecoin that has over $50 billion in circulation.
The coin is pegged 1:1 with the USD. This is done by having USD and cash equivalents held in reserve. Being asset backed is designed to reduce the volatility and better hold the peg.
*USDC is available on a number of blockchains, being one of the most widely distributed stablecoins there is.
Circle is the company licensed as the money transmitter in the United States.
General:
Posted Using LeoFinance Beta
