USD Coin (USDC)

USD Coin (USDC) is a stablecoin pegged to the U.S. dollar, meaning each USDC is intended to be worth $1. It is issued by regulated Financial Institutions and backed by reserves held in U.S. dollars or equivalents. USDC is commonly used for transactions in the Cryptocurrency SPACe, allowing users to move Money quickly and efficiently while avoiding the volatility of other cryptocurrencies. For example, a user might convert their Bitcoin to USDC to lock in profits before purchasing goods or services online. Another case is using USDC in Decentralized Finance (DeFi) applications for lending or earning interest.