What is the guarantee that USDC is fully backed?

3 answers

• Thomas GeorgeApr 23, 2021 · 5 years ago
  USDC, which stands for USD Coin, is a stablecoin that is fully backed by a reserve of assets. This means that for every USDC token in circulation, there is an equivalent amount of assets held in reserve. The reserve assets include cash and short-term U.S. Treasury bonds. The guarantee of full backing ensures that each USDC token can be redeemed for one U.S. dollar, providing stability and trust in the value of the stablecoin.
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• Burgess OttosenJan 26, 2024 · 2 years ago
  USDC is backed by a reserve of assets, which means that it is fully collateralized. This guarantee is provided by the issuer of USDC, who holds the assets in reserve. The reserve assets are regularly audited by a third-party firm to ensure transparency and verify that the amount of assets matches the number of USDC tokens in circulation. This auditing process helps to maintain trust in the stability and value of USDC.
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• Ali MkunaDec 30, 2024 · a year ago
  USDC is fully backed by a reserve of assets, which is held by the issuer of USDC. The reserve assets are audited on a regular basis to ensure that they match the number of USDC tokens in circulation. This guarantee of full backing provides confidence in the stability and value of USDC. However, it's important to note that the guarantee is specific to USDC and may not apply to other stablecoins or cryptocurrencies.
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