| General information | |
|---|---|
| Global rank: | 4912 |
| Name: |
UpSideDownCat |
| Symbol: | USDCAT |
| Current coin price (STD): | 0.886 Db |
| Last hour: | arrow_upward1.54 % |
| Last 24 hours: | arrow_downward-12.65 % |
| Last 7 days: | 7.56 %trending_up |
| Capitalisation (STD): | 0.000000 Db |
| Volume 24h (STD): | 153 579 019.08 Db |
| Available supply: | 0.000000 USDCAT |
| Total coin supply: | -1 USDCAT |
| Start date: | 2018-09-10 |
UpSideDownCat/São Tomé and Príncipe, Dobra (USDCAT/STD) price chart
UpSideDownCat/São Tomé and Príncipe, Dobra (USDCAT/STD) capitalisation and volume charts
USD Coin (USDC) is a fully collateralized stablecoin backed by dollar-denominated assets. Functioning almost as a digital version of the U.S. dollar, it maintains a 1:1 peg with the U.S. dollar. Available on several blockchains, including Ethereum, Algorand, BNB Chain, Polygon Avalanche, Cronos, Solana, Stellar, and TRON, USDC plays a significant role in the decentralized finance (DeFi) space.
Investors can buy USDC using fiat currency, which is then deposited at a U.S. financial institution while equivalent USDC tokens are minted. If USDC is redeemed for fiat currency, the corresponding tokens are burned, and the dollars are transferred to the investors' bank accounts. This mechanism helps maintain its 1:1 peg to the U.S. dollar, as detailed in USDC's whitepaper.
USDC is widely adopted throughout the cryptocurrency market and competes with the leading stablecoin USDT. Its use cases encompass:
As a blockchain-based digital currency, USDC doesn't require a specific bank account, location, or adherence to banking hours or borders.
USDC is an open-source project, managed by the Centre consortium, co-founded by fintech firm Circle and Nasdaq-listed cryptocurrency exchange Coinbase. Accounting firm Grant Thornton oversees the segregated accounts with regulated U.S. financial institutions that hold USDC's reserves in dollars and dollar-denominated assets like short-term U.S. Treasury securities.