USD Coin (USDC) is a fiat-backed US dollar stablecoin issued by Circle. It has about $71.18B in circulation, ranking #2 among the stablecoins CoinScoop tracks, and runs on 126 blockchains.
USDC price
$0.9994
On peg Circulating supply
$71.18B
30-day change
-5.3%
Price
$0.9994
Blockchains
126
Tracked since
Sep 2018
What is USDC?
USD Coin (USDC) is a fiat-backed US dollar stablecoin issued by Circle. It has about $71.18B in circulation, ranking #2 among the stablecoins CoinScoop tracks, and runs on 126 blockchains.
Circle is a NYSE-listed company (CRCL). USDC is issued under Circle's MiCA licence in the EU.
In the issuer's words: USDC is a fully regulated dollar digital stablecoin launched by Circle and Coinbase. USDC is fully backed by cash and short-dated U.S. government obligations, so that it is always redeemable 1:1 for U.S. dollars.
USDC supply history
$81.79B$67.28B
Oct 28, 2025Oct 28, 2026
$81.79B$0
Sep 11, 2018Oct 28, 2026
USDC supply fell 5.3% over the past 30 days, to $71.18B. Its peak was $79.63B in March 2026, and supply is 11% below that high.
Is USDC holding its peg?
Last price
$0.9994
Target
1.0000 USD
Status
On pegUSDC is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDC lives: supply by blockchain
USDC is spread across several networks. The largest, Ethereum, holds 62% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USDC is backed
USDC is backed by cash and short-dated US Treasuries, held largely in the Circle Reserve Fund managed by BlackRock, plus bank deposits.
Minting and redemption: An eligible business can exchange USD for USDC and redeem USDC for USD through a Circle Account.
Reserve reports and audits: centre.io
USDC risks
Issuer and custody
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDC vs USDT and USDS
Similar fiat-backed stablecoins
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USDC in the news
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USDC guides
- Coinbase Taxes and Form 1099-DA: What Coinbase Reports to the IRSCoinbase reports your crypto sales on Form 1099-DA and rewards over $600 on Form 1099-MISC. What each form shows, why cost basis may be missing, and how to report it.
- Form 1099-DA Explained: What Your Crypto Exchange Reports to the IRSForm 1099-DA is the IRS form US crypto brokers use to report your sales. For 2025 it shows proceeds only; from 2026 it adds cost basis for crypto bought on the same exchange.
- Stablecoin Yield: Live Rates and Where the Interest Comes FromLive APYs for the biggest stablecoin savings and lending products, where each rate comes from, and the risks behind yields above the Treasury-bill rate.
- USDT vs USDC: Differences, Reserves and Which to UseUSDT is the biggest and most-traded stablecoin; USDC is smaller but more transparent and more tightly regulated. Live data, reserves and risks compared.
USDC FAQ
What is USDC?
USD Coin (USDC) is a fiat-backed US dollar stablecoin issued by Circle. It has about $71.18B in circulation, ranking #2 among the stablecoins CoinScoop tracks, and runs on 126 blockchains.
Is USDC pegged 1:1 to the US dollar?
USDC targets 1 USD. At the last update it traded at $0.9994, a deviation of -0.06%, which we classify as "on peg".
What backs USDC?
USDC is a fiat-backed stablecoin. Cash and short-dated US Treasuries, held largely in the Circle Reserve Fund managed by BlackRock, plus bank deposits.
Which blockchains is USDC on?
USDC is live on 126 blockchains. The largest by supply are Ethereum ($44.10B), Hyperliquid L1 ($6.80B), Solana ($6.59B).
How much USDC is in circulation?
About $71.18B of USDC was in circulation at the last update, -5.3% over 30 days. That makes it the #2 stablecoin by supply among those we track.
Does USDC pay interest?
No. USDC does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by USDC.
Is USDC safe?
No stablecoin is risk-free. As a fiat-backed design, USDC's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.