$USDC
USD Coin (USDC) is a stablecoin—a type of cryptocurrency designed to maintain a stable value by being pegged 1:1 to the U.S. dollar. Issued by Circle, a regulated financial services company, USDC is backed by cash and cash-equivalent assets held in segregated accounts with U.S. financial institutions. These reserves are subject to regular third-party attestations to ensure transparency and trustworthiness.
USDC operates primarily as an ERC-20 token on the Ethereum blockchain but is also available on multiple other blockchain platforms, enhancing its versatility in various decentralized applications.
As of today, May 5, 2025, USDC maintains its peg with a live price of $1.00 USD and a 24-hour trading volume of approximately $5.97 billion. It ranks as the seventh-largest cryptocurrency by market capitalization, with a circulating supply of over 61.49 billion USDC.
In recent developments, Circle has partnered with Onafriq, Africa's largest payments gateway, to reduce the high cost of cross-border payments across the continent using USDC. This initiative aims to simplify financial transactions and strengthen trust in digital financial services across Africa.
Additionally, Circle has filed for a U.S. initial public offering (IPO), planning to list on the New York Stock Exchange under the ticker symbol “CRCL.” This move signifies Circle's commitment to transparency and its ambition to integrate more deeply into the traditional financial system.
