USDC or USD Coin is a stablecoin that's pegged 1:1 to the US Dollar. CENTRE maintains USDC. CENTRE was founded by Circle – a peer-to-peer payments technology company started by Jeremy Allaire and Sean Neville – and Coinbase. This organization will be responsible for “governing USDC and is dedicated to connecting every person, merchant, financial institution and currency, everywhere.”
USDC was initially launched on Ethereum and has since expanded to 14 blockchains, including Tron and Algorand. Other stablecoin providers like Tether lack proper financial and operational oversight and transparency. USDC, on the other hand, provides detailed financial and operational transparency, operating within the regulated framework of US money transmission laws. CENTER has also partnered with the likes of Signature Bank and Visa for added transparency.