Circle APIs: What is USDC?
Learn why Circle created USDC, why it’s highly stable, and what it means for you.
USD Coin (USDC) is a fully-reserved stablecoin running on many of the world’s leading blockchains. It is always redeemable 1:1 for U.S. dollars, because for every 1 USDC in circulation there is $1 USD held in reserve. USDC was designed from the open-source fiat stablecoin framework developed by Circle and Centre.
- Monitor attestation reports on USDC's reserve holdings by checking Circle’s trust and transparency page.
Which blockchains support USDC?
Circle Account and Circle APIs support all native versions of USDC:
- Algorand USDC | Blockchain website
- Avalanche USDC | Blockchain website
- Ethereum USDC | Blockchain website
- Flow USDC | Blockchain website
- Hedera USDC | Blockchain website
- Solana USDC | Blockchain website
- Stellar USDC | Blockchain website
- TRON USDC | Blockchain website
Circle Account and Circle APIs also support specific ‘bridged’ versions of USDC:
What makes USDC a game-changer in the crypto marketplace?
From day one, Circle’s founders envisioned a world where everyday money (dollars, euros, yen, etc.) could benefit from the most powerful features of digital currencies like Bitcoin. In essence, this money would become:
- Open and accessible
- Globally available
- Connected to anyone and anything on the Internet
- Able to be sent quickly, cheaply, and securely
Today, most businesses must be capable of representing, storing, and processing transfers of money. In the past, such businesses were forced to use traditional banking solutions in order to take payments, transact with partners, engage in internet commerce, and perform other types of financial transactions. Yet from a technology perspective, these old-school banking solutions have been closed, regionalized, hard to obtain, slow, and expensive.
Thanks to Circle APIs, USDC is able to represent money in an Internet-native way. Card payments (and other types of payments) get settled in USDC on a wallet, as opposed to fiat currency on a bank account. Businesses can manipulate those funds via modern APIs, and can instantly connect to any other service or infrastructure that also utilizes USDC.
This approach offers developers and entrepreneurs around the world something they’ve never had before: the ability to build products and commerce on an open platform globally, quickly, and cheaply.
USDC makes the very concept of money more extensible and programmable than ever. In a few short years, it has already become a critical piece of infrastructure for thousands of businesses around the world. These visionary companies have already integrated USDC into everything from digital wallets and exchanges to securities platforms, trade finance systems, payment products, savings and lending, and even games.
Updated about 2 months ago