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Get the latest news on USD Coin (USDC), which is a stablecoin pegged to the value of the U.S. dollar, providing stability and liquidity within the volatile crypto market. Constructed using Centre Consortium’s open-source stablecoin framework, USD Coin is reportedly backed by a combination of U.S. dollars and short-dated U.S. government obligations, with each unit of USDC statedly redeemable for $1 Although USDC aims for a steady value of $1, its price has fluctuated in the past.