USDC is a stablecoin pegged to the US Dollar, but what if you wanted to know the real-time value compared to another asset? Well, that’s why you can use our USD Coin price calculator.
The USD Coin was created by Circle and it is now managed by both Coinbase and Circle. USDC is a relatively new stablecoin pegged to the US dollar and was launched in 2018 in a collaboration between Coinbase and Circle. This stablecoin is an alternative to other USD-backed coins like Tether or TrueUSD. Since it is connected to the dollar, you would think it’s easy to know the value at all times but that’s not the case. And here’s where our USD Coin price calculator gets into the game.
The USDC is a service to tokenize all of the US dollars and to facilitate their use over the internet as well as other public blockchains and these coins can be changed back to USD at any time. The execution of issuing and redeeming the USDC tokens is ensured with an ERC-20 smart contract. Bringing the US dollars into the blockchain world allows moving the coins anywhere in the world within minutes and also brings much-needed stability to crypto by opening up many new opportunities for trading, risk hedging, and more.
The USD Coin is a fast developing project that has a credible institution behind it. The project was launched in 2018 so its ecosystem has already expanded to more than 60 partners. Some of the latest news around it is constantly turning the level of control that the project creators have above it but the developers hold the right to blacklist addresses and to even freeze funds if there is any suspicion that the USD coins are used for illegal activities.
Most of the other stablecoins have similar clauses however but the only one without this term is DAI by Maker. The USD Coin is developed by the Centre consortium as a partnership between Coinbase and Circle. The technology and the governing framework were created by Centre while Coinbase and Circle were the first commercial issuers. Circle was founded in 2013 by Sean Neville and Jeremy Allaire.
Circle is the official Money Transmitter that makes the company an open financial book and these services are US money services that have to comply with the federal regulations and laws. Before launching USDC, the equivalent amount of USD is with one of Circle’s partners that are accredited so all of the tokens are regulated, verifiable, and transparent. Circle is also known as the crypto startup backed by Goldman Sachs. USD Coin falls into the fiat-collateralized coins category as it is a centralized stablecoin. All projects in the same category work in a similar fashion and have minor differences. The biggest ones here are Tether and Digix Gold.
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