USD Coin

U.S. Dollar Coin, or USDC, is an Ethereum-based stablecoin launched in September, 2018. Its policies, including its technical and financial standards, are managed by a consortium called CENTRE, started by peer-to-peer payment company Circle and crypto exchange Coinbase. USDC represents fiat, or government money, on the blockchain. It is redeemable on a 1:1 basis for U.S. dollars, issued by regulated financial institutions and backed by fully reserved assets which are audited by accounting firm Grant Thornton LLP every month. USDC can be easily moved across various cryptocurrency exchanges and platforms quickly which makes it a tool used by traders as well as investors in developing markets looking for a stable blockchain-based asset. CoinDesk also provides a suite of institutional-grade price indexes. Find out more about them here.