USD Coin (USDC)
Fact sheet · reviewed October 26, 2026
USD Coin (USDC) is a dollar stablecoin issued by Circle, designed to always be worth $1 and backed by cash and short-term US Treasuries. It's widely used in crypto apps and payments.
Key facts
| Launched | 2018 |
|---|---|
| Issued by | Circle (launched with Coinbase) |
| Type | Dollar stablecoin, issued as a token on many blockchains |
| Backing | Cash and short-term US government securities |
| Biggest test | Briefly fell to about $0.88 in March 2023 during the Silicon Valley Bank failure, then recovered |
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What it's used for
Trading, DeFi, and sending dollars quickly across borders. It's common in regulated US apps.
How it works
Circle issues USDC when approved customers deposit dollars and destroys it when they redeem. Circle publishes regular reports on its reserves. See stablecoins explained.
Risks to know
- It's not a bank deposit or FDIC insured.
- Circle can freeze USDC at specific addresses.
- Choose the right network when sending; USDC exists on many chains.
Buying and storing it
If you decide to buy, use a regulated exchange you reach directly, check fees with the true cost calculator, and store long-term holdings in a wallet you control. Read how to buy crypto safely. This page isn't a recommendation to buy.
Questions
Is USDC safer than USDT?
USDC's reserves are held in cash and short-term Treasuries with regular reports; USDT also holds some other assets. Both carry issuer risk.
Where to next
Sources
Facts checked against the sources listed, as of October 26, 2026. Educational only; not financial advice.