USDC is a fully backed stablecoin that is pegged 1:1 to the dollar making it one of the most secure stablecoins out there. UST was an algorithmic stablecoin backed by the value of its own LUNA token.
We’re excited by USDC’s stability, track record, and transparency. Since its inception in 2018, USDC’s issuer Circle has conducted regular audits, published monthly attestations and weekly reserves breakdowns, and is fully regulated by the NY Department of Financial Services. Circle’s last two audits, for 2020 and 2021, have been published as part of Circle’s SEC filings as they prepare to become a listed public company on the New York Stock Exchange.