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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