USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold. USDC is an open source project that works within US money transmission laws, uses established banks and auditors and runs on blockchain technology via smart contracts
Each USDC is backed by one dollar or asset with equivalent fair value, which is held in accounts with US regulated financial institutions (see