Introduction to USDC
USDC ( USD Coin) is a digital dollar token, also known as a stablecoin. It was issued by fintech company Circle and aims to provide users worldwide with a faster, safer and more efficient way to send, spend and exchange currencies.
USDC Basic Information
- Pegged currency : USD
- Year issued: 2018
- Issued by: Circle
- Market Cap: Approximately $26 billion (as of 2023.8.28)
Multi-chain support
In addition to running on the Ethereum network, USDC has also been applied on multiple blockchains, providing wider usage scenarios and higher flexibility.
Currently you can access and interact your USDC in Ethereum, Arbitrum, Optimism, Polygon, zkSync Era, TRON and other wallets on imToken.
Advantages of USDC
- Worldwide availability: USDC is available wherever you are, as long as you have an internet connection.
- Instant cash flow: Without relying on cumbersome settlement times, USDC enables payments to arrive as quickly as an email.
- Cost-effective: Using USDC can greatly reduce transfer costs. Compared to traditional telegraphic transfer, USDC costs almost nothing.
Security and transparency
- Trusted Reserve: Each of USDC's tokens is backed by U.S. dollar reserves managed and safeguarded by major US Financial Institutions, including BlackRock and BNY Mellon, ensuring a 1:1 exchange rate.
- Compliance and audit: Like PayPal, Stripe, and Apple Pay, Circle is a licensed money transmitter under US state law and its financial statements are audited annually.
Openness and innovation
- Developer friendly: USDC provides open-source APIs that developers can easily integrate into their applications to provide real-time payments, transactions, and financial services to their users.
- Finance reimagined: USDC is not just a payment instrument, it can also be used for transactions, lending, financing and other financial activities.