USD Coin (USDC) is a stablecoin (stable cryptocurrency) pegged to the US dollar in a 1:1 ratio. This means that for every USDC issued into circulation, there is a real dollar in the bank account. Created through a collaboration between Circle and Coinbase, USDC is the digital equivalent of the dollar, designed for use in cryptocurrency transactions and decentralized finance (DeFi) applications.

One of the key advantages of USD Coin is its stability since it is pegged to the US national currency. This makes it the preferred choice for those seeking protection from cryptocurrency market volatility while still being able to use digital assets quickly and conveniently.

USD Coin is widely used as a medium of exchange on cryptocurrency exchanges and a unit of payment for various cryptocurrency transactions. It is also actively integrating into various decentralized finance applications such as borrowing and lending, staking, and decentralized exchanges (DEX).