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.
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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.
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.
Market cap
Over 35 billion USD in 2025
Issuer
Circle and Coinbase (Centre consortium)
Launch year
2018
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Questions?
Answers.
What is USDC?
USDC is a stablecoin pegged 1:1 to the U.S. Dollar, issued by Circle and Coinbase under the Centre consortium.
Is USDC regulated?
Yes. USDC is issued by U.S. companies and follows strict compliance standards, with reserves held in regulated banks.
How is USDC backed?
USDC is fully backed by cash and U.S. Treasuries. Circle publishes monthly attestations from independent auditors.
What blockchains support USDC?
USDC is available on Ethereum, Solana, Avalanche, and several other blockchains.
Has USDC ever lost its peg?
Yes. In 2023, USDC briefly dropped below $1 when a banking partner collapsed, but the peg was restored once reserves were secured.
Where can I spend USDC?
With Oobit, you can spend USDC anywhere Visa is accepted worldwide.
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