USDC

USD Coin

USDC
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6M
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All time high price
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Created or burnt based on demand.
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Project overview

USD Coin (USDC) is a stablecoin that is pegged 1:1 to the US dollar, designed to combine the stability of fiat with the technological advantages of digital currency. It aims to provide a stable and transparent digital dollar that can be used globally for a wide range of financial applications. 

Launched in September 2018 by the Centre consortium, a collaboration between Circle and Coinbase, USDC currently operates on a number of blockchains including Ethereum, Arbitrum, Avalanche, NEAR, Polkadot, and Solana, to name a few. The token is widely utilised for everyday transactions, trading, on/off-ramps to the crypto market and for stablecoin settlements. 

Technology

USDC leverages the blockchain to provide a tokenised version of the US dollar. Each USDC token is fully backed by a corresponding dollar held in reserve in the form of cash or short-term U.S. Treasury bonds. The amount and composition of the reserves are attested to monthly by independent third parties.  

The underlying technology of USDC allows for quick and secure transactions across different blockchains. Furthermore, USDC supports smart contract capabilities, making it suitable for automated financial services and applications in decentralised finance (DeFi). 

Token supply model

The supply of USDC is regulated by user demand and the actual amount of USD held in reserves. This means that new tokens can only be minted when there are additional US dollars deposited into the reserve and this is what ensures its 1:1 peg to the US dollar.

Key value drivers

USDC addresses key demands within the financial and cryptocurrency sectors by offering a stable, digital version of fiat. It serves as a vital on/off-ramp for the cryptocurrency market, providing a reliable medium for users to enter and exit their positions. The 1:1 peg to the US dollar makes it an effective tool for managing crypto asset exposure and avoiding volatility. Additionally, USDC allows for rapid settlement of transactions, which is crucial for large entities trading digital assets with size. With its commitment to transparency and regulatory compliance, it may be suitable for institutions operating in highly regulated jurisdictions.  

Disclaimer: The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorisation or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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Investor qualification

The following content is available to qualified investors. Please confirm your details below to visit this page, or please see our other digital asset updates here.

Qualified investor - As defined in Art. 10 (3) ff. of the Swiss Collective Investment Schemes Act. In particular, natural persons who have the knowledge required to comprehend the risks of the investments based on their individual education and professional experience or based on comparable experience in the financial sector and hold liquid assets of at least CHF 500,000.

A US Person is defined as (a) an individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organised under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income taxes regardless of whether such income is effectively connected with a United States trade or business.

Disclaimer:

The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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