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USDC, also known as USD Coin, is a U.S. Dollar-backed stablecoin issued by Circle and Coinbase under the Centre consortium. Pegged 1:1 to the U.S. Dollar, USDC is recognized for its strong compliance, transparency, and integration with the U.S. financial system.
With Oobit, you can use USDC instantly to pay anywhere Visa is accepted worldwide.
USDC is a fiat-backed stablecoin launched in 2018 by Circle in partnership with Coinbase. Each USDC is backed by U.S. Dollar reserves held in regulated U.S. banks and is fully redeemable 1:1 for USD. Circle publishes monthly attestations from independent auditors, making USDC one of the most transparent stablecoins available.
USDC is important because it brings regulatory trust and compliance to the stablecoin market. It is widely used by institutions, fintechs, and DeFi protocols that require a transparent and regulated digital dollar. USDC also plays a role in U.S. financial policy discussions, being closely aligned with American banks and regulators.
Its integration with Visa, Mastercard, and major fintech apps has made USDC one of the fastest-growing stablecoins for mainstream adoption.
USDC tokens are minted when U.S. Dollars are deposited with Circle’s banking partners and redeemed when withdrawn. They are available across multiple blockchains including Ethereum, Solana, Avalanche, and others, making USDC highly versatile for payments, DeFi, and cross-border transfers.
While USDC is highly trusted, it still faces risks. Its strong ties to U.S. banks and regulators mean it is vulnerable to regulatory shifts or banking disruptions. USDC also suffered a temporary depeg in 2023 when one of its banking partners collapsed, showing its exposure to the traditional financial system. Liquidity is lower than USDT globally, though it remains strong in U.S.-aligned markets.
Over 35 billion USD in 2025
Circle and Coinbase (Centre consortium)
With Oobit, you get a USDC debit card that turns your Tether into spendable digital money. You can tap and pay in stores wherever Visa is accepted, and shop online online at millions of stores.