USD Coin

USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum blockchain. Each USDC is backed by a dollar held in reserve.[1] USD Coin is managed by a consortium called Centre,[2] founded by Circle and including cryptocurrency exchange Coinbase[3] and Bitcoin miner company Bitmain,[2] which is an investor in Circle.[4] USDC was first announced 15 May 2018 by Circle,[1] and launched in September 2018.[5]

This article is about the cryptocurrency. For United States coinage, see Coins of the United States dollar.

As of June 2019, $343 million USDC was circulating.[6]

References
  1. Irrera, Anna (2018-05-16). "Circle raises $110 million, plans to create dollar-pegged cryptocurrency". Reuters. Retrieved 2020-06-06.
  2. Kharif, Olga (2018-09-26). "Circle Joins Ranks of Stable Crypto Coins With Dollar Token". Bloomberg News.
  3. Geron, Tomio (2019-06-11). "Why Stablecoins Stand Out in the Cryptocurrency World". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-06.
  4. Arnold, Martin (2018-05-15). "China bitcoin miner Bitmain leads $110m investment in Circle". Financial Times. Retrieved 2020-06-06.
  5. Kharif, Olga (2018-10-29). "Stable Coin Backed by Circle, Coinbase Draws Most Early Demand". Bloomberg News. Retrieved 2020-06-06.
  6. Wilson, Tom (2019-06-18). "Explainer: 'Stablecoins' in the spotlight as Facebook unveils Libra cryptocurrency". Reuters. Retrieved 2020-06-06.
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