USD COIN
- March 30, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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USD COIN
Subject: Science & technology
Context: Visa Becomes First Major Payments Network to Settle Transactions in USD Coin (USDC).
Concept:
- USD Coin (USDC) is a digital stablecoin that is pegged to the United States dollar and runs on the Ethereum, Stellar and AlgorandBlockchain.
- Each USDC is backed by a dollar held in reserve.
- USD Coin is managed by a consortium called Centre,founded by Circle and including cryptocurrency exchange Coinbase and Bitcoin miner company Bitmain, which is an investor in Circle.