USD Coin (USDC)

Stable coin backed by Coinbase

#28

Marketcap Ranking

0.999642 (-0.02%) arrow_drop_down

Market Price (24h change)

2,768,770,111

Total Market Cap

2.5

4.2

info_outline What is USD Coin

4.7

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USD Coin Short Description

USD Coin (USDC) is a fully collateralized US Dollar stablecoin based on the open source fiat stablecoin framework developed by Centre, a consortium founded by Circle and Coinbase. USDC tokens are ERC-20 compatible and can be used with any ERC-20 compatible digital wallet or service.

Customers from around the world can tokenize US Dollars into USDC and / or redeem USDC back into US Dollars with Circle (https://usdc.circle.com) and Coinbase (https://www.coinbase.com). USDC is fully collateralized - every unit of USDC is only ever issued after a corresponding US Dollar is deposited in reserve bank accounts.

Reserve funds are held with multiple US-based banks. USDC is built on openness and accountability, enshrined in the governance and technology standards effort of Centre.

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USD Coin Explanation Video

Goldman Sachs Launches A New Crypto – The Circle USD Coin | CryptoCoin.News

Goldman Sachs Launches A New Crypto – The Circle USD Coin Subscribe: http://bit.ly/CryptoCoinNewsYT For the first time ever, a cryptocurrency will be ...

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Screenshot from Website

www.centre.io
USD Coin Websitemore_vert

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Website Informationclose

Organization: Unknown
Name: Unknown
Country: Unknown
City: Unknown
Zipcode: Unknown
Address: Unknown
Mail: Unknown
Creation date: 2014-07-10
Expiration date: 2021-07-10
Nameserver: NS-27.AWSDNS-03.COM

build USD Coin Product Analysis

4.8

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USD Coin Whitepaper

True financial interoperability requires a price stable means of value exchange. CENTRE’s technology for fiat-backed stablecoins brings stability to crypto. The initial implementation is USD//Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added. As more goods and services are tokenized, smart contract platforms will become fundamental building blocks of value exchange.


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USD Coin Competitors

  • 1.) Tether

    Tether (USDT) is a cryptocurrency with reference to fiat currencies that is issued by Tether Limited Company. Using the technology of Blockchain, Tether allows the users to keep, send and receive digital tokens pegged to dollars, euros and yens*. *1USDT =/= 1USD - according to ToS (Terms-of-service) of Tether Limited Company - Tether tokens are not money, although they are backed by the currency used to purchase them at issuance.

  • 2.) Dai

    Dai is a cryptocurrency that is price stabilized against the value of the U.S. Dollar. Dai is created by the Dai Stablecoin System, a decentralized platform that runs on the Ethereum blockchain.

  • 3.) TrueUSD

    TrueUSD claim to be a stablecoin that you can redeem 1-for-1 for US dollars.

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USD Coin Product Analysis

USD Coin was founded back in September 2018. Its source code was released publicly on github on February 2018 under the MIT License license.
Organization wise, USD Coins Development is Centralized and is being developed under the lead of a non-public figure..

The consensus on which the USD Coin network is run is called Not mineable, while the underlying algorithm is called None.
In the current state of USD Coin currently is Working product

group USD Coin Community Analysis

1.7

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USD Coin Communities & Events

There is no official USDC-subreddit yet

view_list Subreddit
person Subscribers
directions_run Active Users
create Daily Posts
speaker_notes Daily Comments
linkOpen Subreddit

USDC GROUP

view_list USDC Group Channel
person 68 Members
directions_run 10 Online
linkOpen in Telegram

There is NO official Twitter account for USD Coin yet

view_list Channel
person 1 Followers

There are no events for USD Coin in the next 3 Months

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USD Coin Google Trends


The Google Trends chart displays the search interest on google in USD Coin relative to its peak over the last year. A rising chart shows growing interest int he project.

code USD Coin Development Analysis

1.8

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USD Coin Github Analysis

Code Updates (Commits)


Every change to the codebase of USD Coin is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 171 Stars
remove_red_eye 17 Watchers
usb 124 Forks
sync_problem 4 Open Issues
border_color 5.91 % Comment Coverage
lock_open MIT License License

attach_money USD Coin Price Analysis

4.4

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USD Coin Price Prediction

$ 0.999904 (0.02%) arrow_drop_up

Predicted USD Market Price in 24h by Coinpaper

$ 1.002885 (0.32%) arrow_drop_up

Predicted USD Market Price in 14d by Coinpaper

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Converter USDC - USD

Convert between USDC and USD with the live USD Coin prices, aggregated from all big exchanges that trade USD Coin.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle USD Coin Team Analysis

4.0

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USD Coin Team

USD Coin Team Leader

Brian Armstrong - Founder
Building a financial system. Coinbase founder.


supervisor_accountSocial Network Links

USD Coin Team Members (0)

remove_red_eye USD Coin Product Review by Coinpaper

4.5

USD Coin Product description

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After the crypto bull-run of 2017 and the havoc wrecked on the crypto-markets in early 2018, the crypto-community turned their attention towards the high-volatility issue of the crypto-currencies. It was high-time something was done to ensure that the markets are not manipulated in any way and to ensure that some mechanism is there to safeguard it against the rapid fluctuations in the crypto-markets. As a result, the concept of stablecoins gained momentum. A USD Coin tries to amalgamate the benefits of the cryptocurrencies with the stability of the fiat currencies. It lets its users transfer money quickly all around the world while maintaining its value to $1

4.2

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The actual product is a crypto-token whose value is backed by the US Dollar. It is already being offered on different exchanges, including Coinbase. This doesn’t mean that the tokens are just created out of one’s own will. Rather, every USD token that is released into the markets must have a US dollar stored in the reserves at the back end. The reserves must be looked after by the issuing companies and audited frequently. This process is known as tokenization

4.5

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USD Coin has some leading cryptocurrency giants backing it. It is a joint-venture between Coinbase and Circle.

4.7

How things stand for USD Coin

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Talking about the history of USD Coin, it is important to note that it is a relatively newer and fresher coin of the lot. This stablecoin cryptocurrency was specifically built to combat the high volatility issues linked with mainstream crypto-tokens while making a quick and easy transaction possible for the users. USD Coin became an instant hit largely due to the good reputation of its founding companies, Coinbase and Circle. The technology and the underlying framework were developed by Centre, while its distribution was first announced by Circle and Coinbase. What USD Coin has practically done is that it has brought the US Dollar on to the blockchain, allowing the movement of payments over the cryptocurrency network.

4.8

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The technology and the underlying framework for the USD Coin were developed by Centre. Their stablecoin framework allows fiat currencies, like the US Dollar, to interact with smart contracts, thus providing a means for the developers to use real-world currencies in blockchain applications.

4.2

USD Coin Pro/Contra

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Adoption USDC is one of the most popular stablecoin.
Transaction speed The crypto-token exhibits a fairly faster network speed.
Transaction cost The exchanges will charge a nominal fee for USDC based transactions.
Energy consumption USDC is a stablecoin cryptocurrency and does not require any sort of mining processes.
Product availability USDC is an already working cryptocurrency.
Exchange availability USDC is available on several exchanges, including Coinbase.
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Security USDC security is unknown
Transactions per second USDC TPS are unknown.
Decentralization As is the case with different stablecoins, USDC is backed by a reserve of US Dollars, and is therefore not completely decentralized.
Privacy The network does not feature any privacy-based incentives for now.

remove_red_eye USD Coin Market Review by Coinpaper

3.8

USD Coin Foresight

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From the price valuation point of view, USD Coin will not show any variation in its price, because essentially it is only a reflection of a US Dollar. The price of USD Coin will, therefore, stay at $1 for years to come. Commenting on its usage, USD Coin will surely have its popularity increased in the coming years. This is largely because the crypto-community has seen a trend-shift towards the use of stablecoins recently.

3.8

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There are no projects under USD Coin. This is because USD Coin, in itself, is not an operating company. Circle and Coinbase might announce some development projects to enhance the working of USD Coin and increase its user-base.

2.8

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USD Coin is limited because it is a stable-coin. It does not hold much potential in terms of return on investment as its price will stay at $1 US. However, it has the potential to become the leading stablecoin that will be used in different applications.

3.0

USD Coin Business Case

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USD Coin is a stablecoin crypto-token. A large number of stablecoins have been introduced to the crypto markets ever since 2018. The most popular and controversial stablecoin project so far is undoubted, Tether (USDT). Other popular stablecoins include Paxos Standar (PAX), Binance USD (BUSD) and TrueUSD (TUSD).

3.8

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One of the earliest partnerships the USD Coin made was with Bitmain and Centre. Back in 2018, Bitmain became a key supporter of Centre’s framework and USDC as it leads a $110 million strategic investment in Circle. USDC also has several banking partners, including Silvergate bank and US Bankcorp Asset Management (USBAM). Circle has also partnered with Grant Thornton LLP for a monthly check-up on the US Dollar reserve balances for the USDC tokens.

4.6

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USD Coin has gained serious lot of loyal fans in a very short time, largely because of its founding companies. The community is visibly active on different social platforms, publishing and taking forward the useful agenda of the USD Coin.

4.4

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Talking about the underlying development, it is using the stablecoin framework designed and developed by Centre.

4.0

compare_arrows USD Coin Exchanges

USD Coin Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Binance USDC/USDT $ 1.002778 $ 298,910,391 check
# 2 Coinbase Pro USDC/BTC $ 0.999175 $ 82,513,548 check
# 3 Coinbase Pro USDC/ETH $ 1.001241 $ 42,979,319 check
# 4 Kraken USDC/USD $ 1.000100 $ 37,799,035 check
# 5 Binance USDC/BUSD $ 1.002125 $ 32,682,282 check
# 6 Coinbase Pro USDC/BAT $ 1.002052 $ 15,564,390 check
# 7 Poloniex USDC/BTC $ 0.998924 $ 13,968,098 check
# 8 Coinbase Pro USDC/MANA $ 1.009216 $ 11,220,127 check
# 9 Kraken USDC/EUR $ 1.001703 $ 9,290,150 check
# 10 Binance USDC/ADA $ 1.001977 $ 8,381,472 check

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