USD coin is an Ethereum asset-based stablecoin created by the Centre Consortium, which was co-founded by the companies Circle and Coinbase in 2018. USDC is pegged to the U.S. dollar on a 1:1 basis, and its total supply is limitless. The intention behind USDC is to bring the U.S. dollar inside the blockchain. Every USDC unit is backed up by a reserve of cash dollars and U.S. Treasury bonds. In April 2022, the circulating supply of USD Coins was just over 51.34 million.