USD Coin

USDC is a stablecoin issued by Circle and designed to track the US dollar. It launched in September 2018 and is issued on several blockchains. NonLogs supports native USDC on Ethereum, identified by the contract in the facts panel. Circle manages its issuance and redemption. USDC and Tether's USDT are separate tokens with different issuers, reserves and contracts, despite sharing a one-dollar price target. A transfer must use the correct token and network.

Circle states that USDC is backed by cash and cash-equivalent reserves. Its disclosures describe cash, short-dated US Treasuries and overnight Treasury repurchase agreements, with much of the reserve held through the Circle Reserve Fund. Circle publishes reserve reports and independent monthly assurance reports. These describe assets held outside Ethereum. Ethereum validators check token transactions against the contract's rules; they do not verify bank balances, the reserve fund's holdings or the issuer's ability to process a redemption.

Direct redemption follows Circle's eligibility, verification and contractual requirements. Its terms for holders outside the European Economic Area require an eligible registered Circle Mint account for direct redemption. Circle publishes separate terms and a redemption policy for EEA holders. Selling USDC on NonLogs instead matches a trade against available orders. The issuer's dollar redemption reference does not fix the price of every exchange trade, and Circle acknowledges that secondary-market prices can move above or below one dollar.

USDC supply changes through issuer-controlled minting and burning, with no fixed mining cap. The Ethereum token includes administrative controls: Circle can block transfers involving specified addresses under its blocklisting policy. Issuer operations, access to reserves and banking arrangements can also affect redemption. A reserve report and a token balance answer different questions: the report describes backing at a stated time, while the balance records how many tokens an address holds. Neither fixes the price available in an exchange order book.

Send native Ethereum USDC matching the contract shown here. Bridged tokens, including versions called USDC.e, use separate contracts, and Circle-issued USDC on another blockchain is also a separate deposit route. Check the network on your current NonLogs deposit page. Ordinary Ethereum transfers publish addresses and amounts, with network fees paid in ETH. A personal wallet sending an ordinary USDC transaction needs ETH for gas in addition to its USDC balance.

The markets below link to pairs involving USDC. In a pair quoted in USDC, the price expresses how many USDC are paid for one unit of the other asset. The last price in each row of the trading-pairs table comes from completed NonLogs trades. Check the current orders and last-trade time before trading. A USDC quote is a token-denominated price; the transaction does not itself create a US-dollar bank transfer or a redemption request with Circle.