About USD Coin
USDC was developed by the Centre Consortium, a collaboration between Coinbase and Circle. USDC will be issued by Circle, Coinbase will be the platform that users can access to make deposits, convert fiat currency into USDC tokens. Each USDC issued is backed by a fiat U.S. dollar held in reserve bank accounts. The USDC was created on the Ethereum blockchain and is ERC-20 compatible. This takes advantage of the security of the Ethereum blockchain, and makes the USDC easy to store and exchange.