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USD Coin

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This is an old revision of this page, as edited by David Gerard (talk | contribs) at 23:01, 3 February 2021 (Restored revision 1002142893 by Eyesnore (talk): We need a third party source). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

This article is about the cryptocurrency. For United States coinage, see Coins of the United States dollar.

USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum blockchain. Each USDC is backed by a dollar held in reserve.[1] USD Coin is managed by a consortium called Centre,[2] founded by Circle and including cryptocurrency exchange Coinbase[3] and Bitcoin miner company Bitmain,[2] which is an investor in Circle.[4] USDC was first announced 15 May 2018 by Circle,[1] and launched in September 2018.[5]

As of June 2019, $343 million USDC was circulating.[6]

References

  1. ^ a b Irrera, Anna (2018-05-16). "Circle raises $110 million, plans to create dollar-pegged cryptocurrency". Reuters. Retrieved 2020-06-06.
  2. ^ a b Kharif, Olga (2018-09-26). "Circle Joins Ranks of Stable Crypto Coins With Dollar Token". Bloomberg News.
  3. ^ Geron, Tomio (2019-06-11). "Why Stablecoins Stand Out in the Cryptocurrency World". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-06.
  4. ^ Arnold, Martin (2018-05-15). "China bitcoin miner Bitmain leads $110m investment in Circle". Financial Times. Retrieved 2020-06-06.
  5. ^ Kharif, Olga (2018-10-29). "Stable Coin Backed by Circle, Coinbase Draws Most Early Demand". Bloomberg News. Retrieved 2020-06-06.
  6. ^ Wilson, Tom (2019-06-18). "Explainer: 'Stablecoins' in the spotlight as Facebook unveils Libra cryptocurrency". Reuters. Retrieved 2020-06-06.
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