USDC

USDC is governed by the Centre consortium, which provides a regulatory and operational framework and oversees the USDC stablecoin.

Stablecoins are often backed by assets with values that are considered to be stable, such as a local currency like the US dollar, or an asset class like gold.

Stablecoins are collateralised to provide stablecoin holders with the opportunity to redeem the tokens for US dollars or the assets that can then be used in the real world.

A stablecoin is a type of cryptocurrency which has a value that’s ‘pegged’ to either an individual local currency such as the US dollar, or an asset class such as gold.

USD Coin (USDC) is a fully collateralised, US dollar-backed stablecoin that was launched in 2018 by a consortium of companies called Centre.

Stablecoins have enjoyed a huge increase in popularity over the past year – but what exactly are they, why are people starting to use them, and why should you care?