USDC (USDC)
Asset ID: 7
USD Coin (USDC) is a stablecoin tied to the US dollar at a 1:1 ratio, intended to maintain a stable value regardless of cryptocurrency market fluctuations.
As a fully backed digital asset, it is supported by US dollar reserves held in regulated financial institutions in the United States. These reserves are verified by the accounting firm Grant Thornton, which issues monthly attestation reports.
USDC operates across multiple blockchain networks, including Ethereum, Algorand, Solana, Stellar, and TRON. It ranks as the second-largest stablecoin and is also among the top 10 cryptocurrencies by market capitalization.
It is used for various purposes such as reducing exposure to volatility, portfolio management, fiat-based pricing, fast cross-border transfers, peer-to-peer payments, and enabling interoperability between blockchains.
Circle and Binance have worked together to broaden the global use of USDC, increasing its integration across Binance products and services. Users can trade, hold, and use USDC on Binance, where its value is tracked in real time.
What is USDCx Stablecoin?
USDCx is a stablecoin version of Circle’s USDC, fully backed on a 1:1 basis by USDC reserves and built to function on the Cardano network. It is designed to maintain the same price stability as USDC, staying close to one US dollar while supporting liquidity and decentralized finance activity within the Cardano ecosystem. Although it operates similarly to standard USDC for users, USDCx has a slightly different redemption model and is part of efforts to expand USDC’s presence across multiple blockchains and improve cross-chain compatibility.
Network: multichain
Category: Other
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