8

Rank

USD Coin, USDC

$1.00 ( 0.09% )

Market Cap

$46 727 916 082

24 Hour Volume

$478 154 860

Available Supply

46 690 293 594

USD Coin / US Dollar Chart, USDC/USD ()


Open price: 0.0
High price: 0.0
Average price: 0.0
Close price: 0.0
Low price: 0.0
Change: 0.0%

#
Exchange
Pair
Volume
Volume (%)
1.

AAX AAX

USDC/USDT
173 377 289 USD
20.49 %
2.
BTC/USDC
167 962 655 USD
19.85 %
3.
USDC/USDT
112 634 876 USD
13.31 %
4.
ETH/USDC
45 317 301 USD
5.35 %
5.
USDC/USDT
44 209 997 USD
5.22 %
6.
USDC/BUSD
34 591 571 USD
4.09 %
7.
USDC/USDT
28 406 004 USD
3.36 %
8.
BTC/USDC
26 857 004 USD
3.17 %
9.
BTC/USDC
26 545 393 USD
3.14 %
10.
USDC/USDT
20 602 182 USD
2.43 %
11.
ETH/USDC
20 250 601 USD
2.39 %
12.
ETH/USDC
19 914 613 USD
2.35 %
13.
BTC/USDC
19 292 651 USD
2.28 %
14.
BTC/USDC
9 525 759 USD
1.13 %
15.
USDC/USDT
7 346 902 USD
0.87 %
16.
BTC/USDC
6 614 082 USD
0.78 %
17.
XRP/USDC
6 101 459 USD
0.72 %
18.
USDC/USDT
5 787 088 USD
0.68 %
19.
USDT/USDC
5 705 836 USD
0.67 %
20.
USDC/USDT
5 449 005 USD
0.64 %
21.
BTC/USDC
5 119 033 USD
0.60 %
22.
DAI/USDC
5 085 446 USD
0.60 %
23.
ETC/USDC
4 914 581 USD
0.58 %
24.
XRP/USDC
4 093 985 USD
0.48 %
25.
ETH/USDC
3 823 921 USD
0.45 %
26.
ETH/USDC
3 465 702 USD
0.41 %
27.
OKB/USDC
3 372 643 USD
0.40 %
28.
BNB/USDC
2 348 704 USD
0.28 %
29.
LTC/USDC
2 290 196 USD
0.27 %
30.
XRP/USDC
2 039 656 USD
0.24 %
31.
BCH/USDC
2 036 371 USD
0.24 %
32.
BTC/USDC
1 886 901 USD
0.22 %
33.
ETH/USDC
1 886 077 USD
0.22 %
34.
BTC/USDC
1 651 431 USD
0.20 %
35.
ADA/USDC
1 598 108 USD
0.19 %
36.
ETH/USDC
1 324 329 USD
0.16 %
37.
ETH/USDC
1 143 787 USD
0.14 %
38.
BTC/USDC
877 442 USD
0.10 %
39.
USDC/USDT
823 730 USD
0.10 %
40.
USDC/BTC
784 976 USD
0.09 %
41.
TRX/USDC
782 655 USD
0.09 %
42.
USDC/USDT
749 793 USD
0.09 %
43.
TRX/USDC
622 011 USD
0.07 %
44.
BSV/USDC
573 804 USD
0.07 %
45.
EOS/USDC
536 664 USD
0.06 %
46.
USDC/UQC
525 493 USD
0.06 %
47.
CRO/USDC
454 781 USD
0.05 %
48.
USDC/USDT
440 195 USD
0.05 %
49.
ATOM/USDC
436 786 USD
0.05 %
50.
DOGE/USDC
428 384 USD
0.05 %
51.
LTC/USDC
410 476 USD
0.05 %
52.
ETH/USDC
302 872 USD
0.04 %
53.
BTC/USDC
294 979 USD
0.03 %
54.
USDC/THB
255 064 USD
0.03 %
55.
ADA/USDC
184 505 USD
0.02 %
56.
LINK/USDC
178 070 USD
0.02 %
57.
EOS/USDC
171 095 USD
0.02 %
58.
LINK/USDC
146 741 USD
0.02 %
59.
LTC/USDC
122 226 USD
0.01 %
60.
USDC/USDT
119 241 USD
0.01 %
61.
USDT/USDC
118 883 USD
0.01 %
62.
BCH/USDC
112 634 USD
0.01 %
63.
USDC/USDT
83 101 USD
0.01 %
64.
ETH/USDC
76 272 USD
0.01 %
65.
USDC/ETH
75 480 USD
0.01 %
66.
USDC/USD
73 560 USD
0.01 %
67.
USDC/HUSD
67 283 USD
0.01 %
68.
USDC/USDT
67 196 USD
0.01 %
69.
USDC/BTC
65 749 USD
0.01 %
70.
EOS/USDC
55 150 USD
0.01 %
71.
WIN/USDC
55 133 USD
0.01 %
72.
USDC/TRY
54 594 USD
0.01 %
73.
USDC/BTC
49 481 USD
0.01 %
74.
LTC/USDC
47 995 USD
0.01 %
75.
USDC/USD
46 753 USD
0.01 %
76.
USDC/USDT
41 628 USD
0.00 %
77.
BTC/USDC
38 212 USD
0.00 %
78.
USDC/USD
38 047 USD
0.00 %
79.
USDC/USDT
37 889 USD
0.00 %
80.
USDC/EUR
37 545 USD
0.00 %
81.
BTC/USDC
34 929 USD
0.00 %
82.
DAI/USDC
34 725 USD
0.00 %
83.
XRP/USDC
21 222 USD
0.00 %
84.
USDC/USDT
19 143 USD
0.00 %
85.
ZEC/USDC
16 818 USD
0.00 %
86.
USDC/ETH
14 738 USD
0.00 %
87.
XRP/USDC
14 432 USD
0.00 %
88.
ETH/USDC
12 444 USD
0.00 %
89.
BOND/USDC
12 323 USD
0.00 %
90.
INSUR/USDC
12 289 USD
0.00 %
91.
DPR/USDC
11 678 USD
0.00 %
92.
DDX/USDC
11 608 USD
0.00 %
93.
FRAX/USDC
11 550 USD
0.00 %
94.
USDC/USD
9 353 USD
0.00 %
95.
ZEC/USDC
9 321 USD
0.00 %
96.
USDC/UAH
8 447 USD
0.00 %
97.
BCH/USDC
7 565 USD
0.00 %
98.
LTC/USDC
7 384 USD
0.00 %
99.
ETH/USDC
6 626 USD
0.00 %
100.
USDT/USDC
6 552 USD
0.00 %
101.
BSV/USDC
5 260 USD
0.00 %
102.
CET/USDC
5 241 USD
0.00 %
103.
USDC/USDT
5 207 USD
0.00 %
104.
USDC/USDT
4 486 USD
0.00 %
105.
USDC/USDT
4 285 USD
0.00 %
106.
USDC/USDF
4 108 USD
0.00 %
107.
BCH/USDC
3 520 USD
0.00 %
108.
USDC/ETH
1 616 USD
0.00 %
109.
DOGE/USDC
1 327 USD
0.00 %
110.
TRX/USDC
1 236 USD
0.00 %
111.
BTC/USDC
1 112 USD
0.00 %
112.
ETC/USDC
807 USD
0.00 %
113.
DASH/USDC
806 USD
0.00 %
114.
BTC/USDC
332 USD
0.00 %
115.
ZEC/USDC
277 USD
0.00 %
116.
BAT/USDC
224 USD
0.00 %
117.
XMR/USDC
165 USD
0.00 %
118.
ATOM/USDC
100 USD
0.00 %
119.
LCX/USDC
55 USD
0.00 %
120.
TUSD/USDC
20 USD
0.00 %
121.
USDC/USDT
14 USD
0.00 %
122.
BCH/USDC
12 USD
0.00 %
123.
USDX/USDC
3 USD
0.00 %
124.
LHT/USDC
0 USD
0.00 %
125.
USDC/USDT
0.0 USD
0.0 %
126.
EOS/USDC
0.0 USD
0.0 %

About USD Coin


USD Coin is a crypto project of the CENTRE consortium designed to convert US dollars into a similar cryptocurrency. It offers retail and institutional customers stablecoin USDC with open source code. The project is entirely transparent and properly managed by licensed companies.

USD Coin solves two pressing issues: high volatility of cryptocurrencies and difficulties when converting them to fiat money. This stablecoin allows saving assets during crypto market turmoil. It is supported by 17 wallets. USDC is also accepted as a means of payment by 19 blockchain platforms and 21 applications, including dApps and DeFi.

Circle startup history

It all started with fintech startup Circle established by Jeremy Allaire and Sean Neville. In July 2013, they registered Circle Internet Financial Ltd in Dublin (Ireland), in August 2013 — Circle Internet Financial Inc in Boston (USA). Both companies were involved in peer-to-peer and mobile payments and worked with fiat money. The American company was registered with FinCEN as a Money Services Business from the start. Mr Allaire is a chairman and CEO of Circle. Mr Neville started as a president and a board member, but in December 2019 he left the first position.

In 2013–2018, Circle attracted $246 million during seven rounds of funding. Such investment allowed the startup to join the crypto sector where it:

  • got BitLicense from the New York State Department of Financial Services (in September 2015);
  • got an EMI licence from the UK Financial Conduct Authority (in April 2016);
  • acquired crypto exchange Poloniex (in February 2018);
  • acquired crowdfunding platform SeedInvest (in March 2019).

In May 2018, when Circle closed the fifth round (of the E series) with $110 million, the team announced the development of the stablecoin. Officially they issued USD Coin in September 2018. The first thing it did was replacing Tether used by Poloniex as an alternative to the dollar.

Centre consortium history

In October 2018, crypto exchange Coinbase Pro decided to participate in the promotion of the new project. It listed stablecoin for the first time. It did not list anything like USDC before. In addition, Coinbase and Circle arranged a joint consortium CENTRE. Its work includes the creation of a standard and rules for issuers of the stablecoin and for those who integrate its acceptance.

In November 2018, CENTRE attracted seed investment separately from the parent companies — $20 million from the Digital Finance Group.

In June 2019, Circle and Coinbase announced the expansion of the consortium. Now, any crypto and fintech companies can become members of CENTRE and issue USDC. To do that, they need to comply with the following criteria:

  1. To have a regulator’s licence to render financial services.
  2. To follow FATF recommendation and AML regulations.
  3. To comply with the technical and operational requirements of CENTRE.
  4. To get confirmation of custodial politics by CENTRE’s financial partners.
  5. To pass regular audits and provide reports on the status of reserves.

Nobody has been able to make the cut according to these criteria yet, so the consortium still has only two members — Circle and Coinbase.

USD Coin cryptocurrency aspects

USD Coin is issued not on its own blockchain (the project does not have one) but on the basis of Ethereum. Due to the fact that the issue of the cryptocurrency utilises smart contracts and the ERC-20 standard, technically it is not a ‘coin’ but a token with a stable price. A minimum fraction is 0.000001 USDC, which is way less than a cent.

In June 2020, Circle announced a partnership with Algorand Foundation. Soon, USDC will be concurrently issued on the basis of the Algorand blockchain. Usually, tokens created in different blockchains are not compatible with each other. As a solution, the Circle and Algorand teams developed a special bridge to convert USDC of different origins and exchange ALGO coins for USDC tokens — all these without involving intermediaries.

By the way, about intermediaries: since USD Coin was listed on first exchanges (Poloniex and Coinbase Pro), the others also started happily listing it. Now it is already traded on 50 crypto exchanges. However, it is not necessary to use trading platforms because you can buy or sell USD Coin for fiat directly through the consortium members:

  • To buy USDC, the client transfers USD to the issuer’s bank account. The issuer, in their turn, creates a smart contract with the same number of tokens and sends them to the client.
  • To sell USDC, the client makes a request for redemption and sends them to the issuer’s address. He transfers USD to the client’s bank account and burns the redeemed tokens through a smart contract so that the balance of the reserve and tokens in circulation converges.

For now, the direct exchange is available through Circle and does not charge fees for transactions, except for ether gas, the fiat equivalent of which is nevertheless deducted from US dollars sent to the client. Also, during the first operations through CENTER members, individuals must pass the KYC procedure. Issuers are forced to verify clients due to the requirements of the consortium and regulators.

The USDC rate is pegged to the US dollar. Circle and CENTER maintain parity so that one token is equivalent to one fiat dollar. However, due to market volatility, which is stronger than the capabilities of these companies, deviations sometimes occur.

On our USD Coin chart, you can observe all token’s extremes. For example, on 18 March 2020, USDC set a low of $0.9701. It also reached a high of $1.04 twice — on 26 November 2018 and 12 March 2020.

The backing of the USDC stablecoin

The USDC price is stable because all issued tokens are backed by reserves on the accounts of Circle Internet Financial Inc. The company really does store dollars one-to-one and does not use cunning tricks like throwing in other assets or accounts receivable into the reserve.

To prove the transparency, Circle monthly goes through audits, and their results (pdf documents) are published on centre.io and circle.com with slight delays. The first audit took place way back in October 2018, and since then, not a month went by without it.

The first audit (October 2018) Amount
Tokens issued into circulation 127,408,827 USDC
Fiat dollars in custody accounts 127,412,240.89 USD
The 20th audit (May 2020) Amount
Tokens issued into circulation 730,800,467 USDC
Fiat dollars in custody accounts 746,657,617 USD

 

The permanent auditor is the New York branch office of Grant Thornton LLP. The American representative office has been in business since 1924 and sits on the sixth position on the local market, so its respectability and authenticity of results do not raise flags.

The user’s USD wallet in personal account is a simulation wallet. Buying and selling coins in indices, gains or losses thereon are a virtual simulation. We are not able to conduct any transactions with real currency. *Partnership service Coin-cap.pro does not offer the service of buying or selling cryptocurrencies.