How does Circle guarantee that USDC is fully backed and redeemable 1:1 for US dollars?

USDC is backed 100% by highly liquid cash and cash-equivalent assets and is redeemable 1:1 for US dollars. The majority of the USDC reserve is invested in the Circle Reserve Fund (USDXX), an SEC-registered 2a-7 government money market fund, with daily independent third-party reporting publicly available via BlackRock.

Which blockchains is USDC available on?

USDC is natively supported on multiple leading blockchain networks. See the USDC page for the current list and details.

How can I get USDC and convert it back to fiat currency?

Institutions can use Circle Mint to directly mint and redeem USDC. Startups and small businesses can access USDC via on/offramp providers in the Circle Alliance Program. Individuals can access USDC via exchanges, neobanks, and digital wallets.

What does it mean for USDC to be 'minted' or 'burned'?

Minting is issuing new USDC in exchange for USD deposited into a Circle account. Burning is redeeming USDC for USD, removing USDC from circulation.

Circle's view is that USDC is not a security and references the SEC staff Statement on Stablecoins (April 2025) for the Covered Stablecoin framework.

Is USDC a 'Covered Stablecoin'?

Circle's view is that USDC is a Covered Stablecoin as described in the SEC staff Statement on Stablecoins, and Circle publishes reserve information on its transparency resources.

USDC

The world’s largest regulated¹ stablecoin. Powering a more open economy.

Fully backed digital dollars

USDC gives businesses a trusted way to reach more markets, move value more freely, and build near-instant financial experiences.

Built for rapid global payments and 24/7 financial markets, USDC is a regulated digital currency you can redeem 1:1 for US dollars.

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Put internet-native dollars to work

Settle in moments, every second of the day

Boost your capital efficiency and minimize prefunding with real-time transactions, available 24/7.

Compliant, so you can be too

USDC is the world’s largest regulated¹ stablecoin. Because leaders build on solid ground.

Expand into new markets with ease

Unlock international markets that were previously unreachable or too costly to serve. USDC is already in use around the world.

The world’s largest regulated1 stablecoin. Powering a more open economy.