USDC is a US Dollar backed stablecoin. It is issued and managed by Circle. This is a cryptocurrency that is pegged 1:1 to the US dollar. There are several popular dollar stablecoins, we chose USDC because it is issued by Circle Financial and their books are audited and verified. This provides reasonable assurances that the dollar peg can remain intact. USDC currently runs on many chains. We sell USDC on the Ethereum blockchain and will soon add the Polygon network. USDC is useful for entering De-Fi markets and sending payments over cryptocurrency networks to benefit from the speed, finality, and transparency that blockchain technology provides.
USDC and other dollar stable coins are widely used to send money from one country to another quickly and cheaply. This is most commonly used in the “remittance” process. Family members working in one country for higher wages will send some of their earnings to family members in their homeland. This process formerly was dominated by companies like Western Union that charge exorbitant fees. USDC is disrupting that industry making it easier for families to help each other out. Although USDC is “stable,” it does still have mild price fluctuations that you may see on CoinMarketCap. If you are working with a high denomination transaction, it may be useful to check the chart before you execute it.
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