USD Coin (USDC) is a U.S. dollar‑pegged stablecoin designed to maintain a 1:1 value with the U.S. dollar, combining the stability of fiat currency with the efficiency and programmability of blockchain technology. Each USDC token in circulation is backed 1‑to‑1 by U.S. dollar reserves, held in regulated financial institutions and consisting of cash and short‑term U.S. Treasury bonds to support transparency and stability.