Creation - October, 2018
Standard of the token – ERC-20 Ethereum
Market capitalization – $685 944 696 USD
Coinmarketcap rating - № 18
Maximal price of the token over the time - $1,11 USD
Minimal price of the token over the time - $0,929222 USD
Website of the project - https://www.centre.io/usdc
Medium - https://medium.com/centre-blog
Twitter - https://twitter.com/circlepay
USD Coin (USDC) – is a stable digital coin (stablecoin), that is an equivalent to real US dollar (1:1) and is based on the blockchain Ethereum, and its smart contracts are supported by the standard ERC-20, thanks to which the token can be stored in any Ethereum wallet.
Emission of the tokens was initiated in 2018 by the payment platform “Goldman Sachs-backed Circle Internet Financial Limited” (Circle) and the crypto-exchange “Coinbase”, that are members of the consortium “CENTER”, the aim of which is development and implementation of the systems price settlements, stable digital assets, as well as creation and management of new chain protocols.
“CENTER” consortium includes a number of technological and financial companies, among which we can name a crypto-giant “BitMain Technologies Ltd”.
USDC coins are issued by regulated and licensed financial institutions, that support the reserves with equivalent fiat currency. “CENTER” serves as an internal regulator for the emitters of USDC, and encourages their receipt of state licences for processing of electronic asset transactions (bank, remittances).
A lot of attention is paid to the conformity to anti-money laundering standards and compliance with FATF requirements.
Certainly, in order to buy/exchange USDC, passing of KYC and complete verification of a user is required, which ensures full lawfulness and transparency of transactions in addition to technical components of Ethereum blockchain.
USDC token is completely licensed and regulated by NYDFS for conduction of business in USA – the strictest financial regulator of the country.
Monthly audit, ensuring the compliance (1:1) USDC to real assets in USD on the bank deposits, is performed by the audit company “Grant Thornton LLP”.
Besides, taking into account complete conformity with USA law, stablecoin USDC can be confidently claimed one of the most reliable and “transparent” tokens.
Along with that, users need to now, that the concept of centralized coins excludes any “grey” or illegal schemes of usage thereof.
Any centralized coins, including USDC, can be subject to sanctions, “freezing” or confiscation upon the decision of the court, if violation of law regulation aspects or illegal coins use comes to light.
Monetary ecosystem of “CENTER” consortium and USDC token is constantly expanding, and accounts to more than 100 partners so far, confirming the trust, that respectful companies and financial players, interested in delivery of guaranteed liquidity, show to it. Moreover, the ecosystem is more and more attracting the attention of large-scale institutional investors.
Emission of USDC tokens is in direct connection to fiat US dollars, securing its issuance, and is of a dynamic nature.
Due to the fact, that the coin is stable and not subject to sharp volatility, its market rate is always around 1 US dollar.
USDC token has passed listing on various exchange platforms, including Inanomo and is traded in the pair combinations USDC/USDT, USDC/PAX, TRX/USDC, BTT/USDC, BTC/USDC , ETH/USDC, LINK/USDC and so on.