LeoGlossary: USD Coin (USDC)

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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.

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