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When was USDC issued? Learn about the origin of USDC in one article
Conceived in 2018, USDC emerged as a stablecoin backed by real-world assets and renowned for its transparency, regulatory compliance, and widespread adoption.
Oct 02, 2024 at 04:36 am

The Genesis of USDC: A Dive into the Origins of the Stablecoin
1. Conception and Launch (2018)
The idea for USDC was conceived in June 2018, as part of a collaboration between CENTRE, a joint venture between Circle and Coinbase, and the CENTRE Consortium. The aim was to create a stablecoin pegged to the US dollar, backed by real-world assets.
2. Issuance (September 2018)
The first USDC tokens were issued on September 26, 2018, on the Ethereum blockchain. The initial supply was 100 million USDC, backed by an equivalent amount of US dollars held in Circle's bank accounts.
3. Transparent and Audited Issuance
From the outset, the USDC issuance process was designed to be transparent and auditable. Monthly attestations by accounting firm Grant Thornton confirmed the 1:1 backing of US dollars for every USDC in circulation.
4. Regulatory Compliance
USDC was designed to comply with regulatory requirements. The backing assets are held in FDIC-insured US banks and are subject to periodic audits.
5. Growing Adoption
Over time, USDC gained traction as a stablecoin due to its transparency, regulatory compliance, and support from major cryptocurrency exchanges. It is now widely used as a medium of exchange, a store of value, and a bridge between fiat currencies and the crypto market.
6. Market Dominance
As of January 2023, USDC is the second-largest stablecoin by market capitalization, with a circulating supply of over 40 billion tokens. It currently holds a dominant position in the stablecoin market, providing stability and liquidity to the crypto ecosystem.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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Related knowledge

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Mar 14,2025 at 11:31pm
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Is USDC suitable for daily consumption and payment
Mar 14,2025 at 11:31pm
Key Points:USDC's suitability for daily consumption hinges on its acceptance by merchants and its transaction fees.Volatility is a major consideration; while USDC aims for a 1:1 USD peg, fluctuations can occur.Transaction speeds and fees compared to traditional payment methods are crucial factors.Security and regulatory compliance of USDC and associated...

What are the future development trends and prospects of USDC
Mar 14,2025 at 08:06pm
Key Points:Regulatory Clarity: Increased regulatory scrutiny and potential for clearer guidelines will significantly impact USDC's future.Competition: The rise of other stablecoins and the development of decentralized alternatives pose a competitive threat.Adoption and Integration: Wider adoption by businesses and integration into DeFi protocols will be...

What is the competitive position of USDC in the stablecoin market
Mar 10,2025 at 12:42pm
Key Points:USDC's market dominance stems from its strong regulatory compliance and backing by Coinbase and Circle.Competition comes from other large-cap stablecoins like Tether (USDT) and Binance USD (BUSD), each with its own strengths and weaknesses.Algorithmic stablecoins pose a different type of threat, though their inherent volatility remains a majo...

Does USDC support smart contract functions
Mar 12,2025 at 09:55am
Key Points:USDC, unlike some other stablecoins, does not directly support smart contract functionality on all networks.Its functionality varies depending on the blockchain it's deployed on.Ethereum-based USDC does have smart contract capabilities, while others may not.Understanding the specific blockchain is crucial to determine USDC's smart contract co...

Is USDC suitable for long-term holding
Mar 16,2025 at 05:20pm
Key Points:USDC's stability is tied to the US dollar, making it less volatile than other cryptocurrencies. However, this stability is dependent on the issuer's solvency and regulatory environment.Long-term holding of USDC involves considerations beyond simple price appreciation, such as potential regulatory changes and the risks associated with centrali...

Does USDC support multi-chain issuance and what blockchains are supported
Mar 10,2025 at 01:40pm
Key Points:USDC, unlike some other stablecoins, does support multi-chain issuance.This means USDC tokens can exist and be used on multiple different blockchain networks.The specific blockchains supported by USDC are constantly evolving, so checking the official Circle website is crucial for the most up-to-date information.Understanding the implications ...
See all articles
