Cryptocurrency Q&A
Is USDC backed by USD?
Is USDC backed by USD?
Maria
Wed Oct 30 2024
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7 answers
1672
I'm wondering if USDC is actually backed by USD. I've heard different things about stablecoins and their backing, so I want to make sure I understand if USDC is really supported by US dollars.
7 answers
SsamziegangSerenadeMelodyHarmonySoul
Fri Nov 01 2024
This stability is ensured through a thorough backing mechanism.
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BlockchainEmpiress
Fri Nov 01 2024
Specifically, each USDC token in circulation is supported by an equivalent of $1 USD.
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SamsungSpark
Fri Nov 01 2024
This backing can be in the form of cash or cash equivalents.
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QuasarGlider
Fri Nov 01 2024
USD Coin (USDC) represents a unique type of digital asset known as a stablecoin.
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Maria
Fri Nov 01 2024
Its value is anchored to the U.S. Dollar (USD), providing stability against the volatility of other cryptocurrencies.
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