USDC, or USD Coin, is a prominent stablecoin in the cryptocurrency market. Unlike most cryptocurrencies, USDC aims to represent a direct translation of US dollars into digital form. It is backed 1:1 by actual US dollars held in reserve, providing it with relative stability in the volatile crypto space. Built on the Ethereum platform, USDC enables swift digital transactions while maintaining transparency and compliance with established financial regulations. Thus, it finds valuable use in exchanges, wallets, and DeFi applications.