USDC (USD Coin) is a stablecoin, a type of crypto asset designed to hold a steady value of one US dollar. It is issued by Circle, a US financial technology company, and each USDC is backed by reserves of cash and short term US government securities. USDC launched in 2018 through a consortium formed by Circle and Coinbase, and Circle publishes regular reports on its reserves. Because its price does not swing like Bitcoin or Ethereum, USDC is widely used for trading, moving money across borders, earning yield in decentralised finance, and holding dollar value on a blockchain. It runs on many networks, including Ethereum, Solana and Base, so it can be sent quickly and at low cost at any time of day.