USDC (USD Coin) is a stablecoin designed to maintain a 1:1 peg to the U.S. dollar, aiming to provide stability in the cryptocurrency market. Each USDC token is backed by reserves consisting of cash and short-term U.S. Treasury bonds. Introduced in 2018 by the Centre Consortium, a collaboration between Circle and regulated financial institutions, USDC seeks to bridge traditional finance with blockchain technology. It is widely used for transactions, decentralized finance (DeFi), and digital payments across multiple blockchain networks.

USDC operates as a stablecoin primarily issued as an ERC-20 token on the Ethereum blockchain, ensuring compatibility with Ethereum-based applications. Each USDC in circulation corresponds to a U.S. dollar held in reserve, with new tokens minted as users exchange fiat currency for USDC through verified platforms. To maintain transparency, independent accounting firms regularly audit reserves, ensuring that the total USDC supply aligns with the corresponding reserve value. This system is designed to support price stability and reduce volatility.

USDC is used in various cryptocurrency applications, including DeFi protocols, peer-to-peer transactions, and digital commerce. Businesses utilize USDC for payment processing, while individuals use it for remittances, savings, and smart contract interactions. As a stable digital asset, USDC integrates into lending, borrowing, and trading platforms, providing a price-stable option for decentralized financial activities. Its blockchain compatibility enables seamless transactions across multiple networks.

USDC was launched in 2018 by the Centre Consortium to introduce a stable digital asset within the cryptocurrency market. The project was created to provide a transparent and fully backed stablecoin that could operate within the growing blockchain ecosystem. In 2020, USDC underwent smart contract upgrades to enhance its functionality for digital payments. Over time, it has expanded to multiple blockchain networks, increasing its adoption in DeFi and other financial applications while maintaining its 1:1 peg to the U.S. dollar.

USDC can be acquired through digital platforms that support stablecoin transactions. Users can send, receive, and store USDC in compatible cryptocurrency wallets. These platforms also provide tools to track USDC’s live price and compare it to market trends. Ensuring that the chosen platform supports USDC’s underlying blockchain network is essential for smooth transactions and asset management.

USDC is designed to maintain a price of $1, functioning as a stablecoin within the cryptocurrency market. Its value is supported by cash reserves and short-term U.S. Treasury bonds that back the circulating supply. Minor fluctuations may occur due to trading volume or liquidity conditions, but mechanisms are in place to sustain the 1:1 peg with the U.S. dollar.

USDC is structured to maintain a stable value of $1, backed by reserves of cash and short-term U.S. government securities. Market activity may occasionally cause small deviations in price, but transparency measures and reserve backing aim to ensure price stability. The design of USDC seeks to provide a consistent value across various market conditions.

USDC is intended to retain its $1 peg through its reserve-backed structure. As long as its operational framework remains unchanged, USDC is expected to maintain stability in 2025. However, external factors such as regulatory developments or shifts in market demand could influence the broader cryptocurrency ecosystem, potentially affecting its adoption and circulation.

USDC and USDT are both stablecoins pegged to the U.S. dollar, but they differ in issuance and transparency. USDC is issued by the Centre Consortium, with regular audits providing insight into its reserve holdings. USDT, issued by Tether, also seeks to maintain stability but has faced scrutiny regarding the transparency of its reserves. Users may choose between these stablecoins based on preferences for audit transparency, reserve disclosures, and blockchain compatibility.

We update our USDC to CAD currency in real-time. Get the live price of USDC on Coinbase.

The current market cap of USDC is CA$83.77B. A high market cap implies that the asset is highly valued by the market.

The all-time high of USDC is CA$1.36. This all-time high is highest price paid for USDC since it was launched.

Over the last 24 hours, the trading volume of USDC is CA$7.97B.

Assets that have a similar market cap to USDC include Solana, Dogecoin, BNB, and many others. To see a full list, see our comparable market cap assets.