USDC to Launch on Unichain in November
Date: 2024-11-13 Author: Oliver Abernathy Categories: BLOCKCHAIN
USD Coin (USDC) is a popular stablecoin backed 1:1 by the US dollar, ensuring its value remains stable regardless of overall cryptocurrency market volatility. Created by Circle, USDC is the second-largest stablecoin after Tether (USDT) and is widely used in financial applications around the world.
To maintain the stability of USDC’s value, Circle places dollar reserves in regulated US financial institutions. The reliability of these reserves is confirmed by regular audits by third-party auditing firm Grant Thornton, which issues monthly reports demonstrating the adequacy and integrity of the reserves. This increases user confidence in USDC, making it a preferred choice for financial transactions.
USDC is available on multiple blockchains, including Ethereum, Algorand, Solana, Stellar, and TRON, making it one of the leading cryptocurrencies by market capitalization. Due to its versatility, USDC not only serves as a stable asset, but also serves a variety of functions, from protecting against market fluctuations to enabling fast international transfers, as well as supporting peer-to-peer payments and cross-chain transaction interoperability.
