About USD Coin (USDC)
What Is USD Coin (USDC)?
USD Coin is a dollar-denominated stablecoin issued by Circle. It is designed to track one US dollar. Circle says native USDC is fully reserved and redeemable 1:1 by eligible customers. USDC exists on many blockchains and is widely used for payments, trading, settlement, and DeFi.
How Does USD Coin Work and What Is USDC Used For?
Circle mints USDC when an eligible customer deposits dollars and burns it on redemption. Supply therefore expands and contracts with demand. Native USDC should not be confused with bridged copies. Each network has its own official contract. Circle's CCTP moves native USDC between supported chains by burning on the source chain and minting on the destination chain.
USD Coin Security, Control and Risks
USDC depends on Circle, its banks, reserve assets, compliance controls, and smart contracts. Circle can block addresses under its terms. Bank disruption, regulation, contract bugs, and confusion between native and bridged USDC can affect users. Verify the network and contract before sending funds.
Frequently Asked Questions About USD Coin
Is USDC mined?
No. Circle issues and burns it against deposits and redemptions.
Does USDC have a fixed maximum supply?
No. Supply changes with issuance and redemption.
Is one USDC guaranteed to trade at exactly $1?
No. Secondary-market prices can move around the target.
Sources and Verification
Official sources
- Circle USDC Active
- USDC terms Active
- Circle supported blockchains Active