USD COIN (USDC)
(USDC) is a digital stablecoin that is pegged to the United States dollar.
is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.
USDC is issued by a private entity and should not be confused with a central bank digital currency (CBDC).
Circle claims that each USDC is backed by a dollar held in reserve, or by other "approved investments", though these are not detailed. [+]