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Digital assets >
USDC

USDC

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LAST UPDATED:
July 23, 2025

USD Coin is a digital stablecoin pegged to the value of the US Dollar.

USDC is backed by USD cash and treasuries held in reserve.

Background

USDC is designed to maintain a 1:1 value with the US Dollar. Created on the Ethereum blockchain, USDC is ERC-20 compatible. Multiple other blockchains such as Algorand, TRON and Solana have also adopted its use.

Launch

Coinbase and fintech firm Circle collaborated to create the Centre Consortium, subsequently producing USDC, launching on September 28, 2018.

How does it work?

Each unit of USDC in circulation is backed by USD cash and treasuries held in reserve. USDC generates by sending USD to the token issuer’s bank account and interacting with the smart contract on the desired blockchain. To redeem USDC for USD, the process is reversed.

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Information on this page includes third party content. Bullish is not responsible for third party content. Content is for informational purposes only and is not investment advice. You should do your own research. Not all digital asset products are available in all locations. Bullish may enter into arrangements with digital asset issuers, sponsors or related parties under which Bullish will receive compensation, such as promotion or trading fees or other incentives, for providing listing, liquidity or other services in relation to a digital asset. Visit bullish.com/trust for more important information.
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