$USDC Stablecoins are cryptocurrencies designed to maintain a stable value, typically by being pegged to a reserve of assets like traditional fiat currencies. USDC (USD Coin) and USDT (Tether) are two popular stablecoins, each pegged to the US dollar on a one-to-one basis. USDC was launched by Circle, initially on the Ethereum blockchain, and has since expanded to other blockchains. It is not produced by mining but is powered by smart contracts. USDT, on the other hand, was first launched on the Omni blockchain by Tether Ltd. Both stablecoins are used within the crypto ecosystem for various purposes, including trading on exchanges, remittances, and in decentralized finance (DeFi) applications.