USD Coin, denoted by the symbol USDC, is a stablecoin pegged to the US Dollar. It was launched in 2018 by the CENTRE Consortium, a collaboration between Circle and Coinbase, two prominent players in the cryptocurrency industry. USDC is designed to maintain a 1:1 value ratio with the US Dollar, providing users with a stable and secure digital asset.

USDC is primarily used as a stable store of value in the cryptocurrency market, allowing traders and investors to hedge against the volatility of other digital assets. It can also be used for remittances, online transactions, and various decentralized finance (DeFi) applications. As a regulated stablecoin, USDC is subject to regular audits and backed by USD reserves, ensuring its stability and reliability.