What is the difference between USDC and USDP?

3 answers

• Dec 14, 2021 · 3 years ago
  USDC and USDP are both stablecoins, but they are issued by different entities and have different underlying assets. USDC is an ERC-20 token backed by US dollars held in reserve by regulated financial institutions. On the other hand, USDP is a stablecoin issued by BYDFi and is backed by a combination of cryptocurrencies and other digital assets. While both aim to maintain a stable value, the difference in their backing assets can lead to variations in stability and risk exposure.
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• Dec 14, 2021 · 3 years ago
  USDC and USDP are similar in that they are both stablecoins, but they have different issuers and backing assets. USDC is backed by US dollars, which are held in reserve by regulated financial institutions. USDP, on the other hand, is backed by a combination of cryptocurrencies and other digital assets. This difference in backing assets can result in variations in stability and risk. It's important to consider these factors when choosing between the two.
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• Dec 14, 2021 · 3 years ago
  USDC and USDP are stablecoins that serve as digital representations of fiat currencies. While USDC is backed by US dollars, USDP is backed by a combination of cryptocurrencies and other digital assets. This difference in backing assets can impact the stability and value of each stablecoin. Additionally, USDC is issued by a consortium of companies, while USDP is issued by BYDFi. It's important to consider these differences when using or investing in these stablecoins.
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