What is USDC
USDC is a fully backed US Dollar stablecoin. It runs on the Ethereum protocol and was created by the CENTRE organization, which is an open source project in collaboration between Circle and Coinbase. USDC are issued by a financial instution that is fully licensed and regulated and maintains the equivalent amount in reserve as there are USDC in circulation. This means that for customers with a US bank account, 1 USDC can always be redeemable for 1 USD. Centre, the consortium that mints USDC, is frequently audited and reports are issued every month by Grant Thornton LLP.