USD C01n (known by its ticker USDC) is a stablec01n that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this crypt0currency in circulation is backed up by $1 that is held in reserve, in a mix of cash and sh0rt-term U.S. Treasury b0nds. The Centre c0ns0rtium, which is behind this asset, says USDC is issued by regulated financial institutions.

The stablec01n 0riginally launched on a limited basis in September 2018. Put simply, USD C01n’s mantra is “digital money for the digital age” — and the stablec01n is designed for a world where cashless transactions are becoming more c0mm0n.

Several use cases have been unveiled for the USD C01n. As well as providing a safe haven for crypt0 traders in times of v0latility, th0se behind the stablec01n say it can als0 all0w businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming.

Overall, the g0al is to create an ec0system where USDC is accepted by as many wallets, exchanges, service providers and dApps as p0ssible.