USDC or USD Coin is a stablecoin pegged to US dollar and is often called as a digital dollar. Stablecoin is a crypto asset that is designed to have the same value as a certain asset such as currency and gold. USDC is issued by Centre, a consortium of two entities: Circle Internet Financial and Coinbase, a large cryptocurrency exchange in US.
USDC is the most liquid stablecoin because it has 100% reseves that backed by cash and short-term US government treasuries. US financial companies such as BlackRock and The Bank of New York Mellon (BNY Mellon) manage USDC reserve funds.
Read also: What is Stablecoin?