Under the symbol USDC, USD Coin is a stablecoin that is tied to the US dollar and is very new to the market. In a collaborative effort between Circle and Coinbase, it was officially launched on September 26, 2018. USDC is a cryptocurrency backed by the United States dollar, such as Tether (USDT) or TrueUSD (TUSD). Putting US dollars on the blockchain enables them to be transferred anywhere in the globe in minutes, and it also provides much-needed stability to the cryptocurrency market. In addition, it offers up new prospects for trading, lending, risk-hedging, and other activities in the financial sector.