What is USD Coin and who owns it?

3 answers

• Dec 19, 2021 · 3 years ago
  USD Coin (USDC) is a stablecoin that is pegged to the US dollar. It was created by Circle and Coinbase, two well-known cryptocurrency companies. The purpose of USD Coin is to provide stability in the volatile cryptocurrency market. It is backed by a reserve of US dollars, which means that for every USDC in circulation, there is an equivalent amount of US dollars held in a bank account. This ensures that the value of USD Coin remains stable at a 1:1 ratio with the US dollar. Circle and Coinbase are the initial issuers of USD Coin, but it is an open and decentralized system, which means that anyone can use USD Coin and participate in its governance.
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• Dec 19, 2021 · 3 years ago
  USD Coin (USDC) is a type of cryptocurrency that is designed to have a stable value. It is pegged to the US dollar, which means that 1 USDC is always equal to 1 US dollar. This stability makes USD Coin a popular choice for traders and investors who want to avoid the volatility of other cryptocurrencies. As for ownership, USD Coin is a collaborative effort between Circle and Coinbase. These two companies are responsible for the creation and initial distribution of USD Coin, but the ownership and governance of USD Coin is decentralized. This means that no single entity or organization owns or controls USD Coin. Instead, it is governed by a consortium called the Centre, which is made up of various companies and organizations in the cryptocurrency industry.
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• Dec 19, 2021 · 3 years ago
  USD Coin (USDC) is a stablecoin that was created by Circle and Coinbase. It is backed by a reserve of US dollars, which ensures its stability. The ownership of USD Coin is decentralized, meaning that no single entity or organization owns it. Instead, it is governed by a consortium called the Centre, which includes Circle, Coinbase, and other industry participants. The Centre is responsible for the issuance and governance of USD Coin. As for BYDFi, it is a digital currency exchange that offers trading services for various cryptocurrencies, including USD Coin. However, it is important to note that BYDFi is just one of many exchanges where USD Coin can be traded. Users have the freedom to choose the exchange that best suits their needs and preferences.
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