1. USDC Key Facts
| Token | USDC / USD Coin |
|---|---|
| Peg | 1 U.S. dollar |
| Peg type | Fiat-backed stablecoin |
| Issuer | Circle |
| Reserve model | Highly liquid cash and cash-equivalent assets, including the Circle Reserve Fund and bank deposits |
| Assurance frequency | Monthly third-party assurance reports from a Big Four accounting firm, according to Circle |
| Direct redemption | Circle Mint account required for direct redemption with Circle, subject to terms and eligibility |
| Market data source | CoinGecko and CoinMarketCap live USDC pages, checked May 7, 2026 |
2. Backing and Reserve Composition
Circle states that USDC is backed 100% by highly liquid cash and cash-equivalent assets. Circle's transparency page says the majority of the USDC reserve is held in the Circle Reserve Fund, an SEC-registered 2a-7 government money market fund managed by BlackRock, and the remainder is held in cash, mostly at major banks.
| Reserve item | Public description |
|---|---|
| Circle Reserve Fund | SEC-registered 2a-7 government money market fund that can hold cash, short-dated U.S. Treasuries, and overnight U.S. Treasury repurchase agreements |
| Bank deposits | Cash held at major banks, including deposits at systemically important institutions and other banks as disclosed by Circle |
| Transparency data | Circle publishes reserve composition and mint/burn data on its transparency page |
3. Audit and Attestation Status
Circle says USDC reserve holdings are disclosed weekly with associated mint and burn flows, and that a Big Four accounting firm provides monthly third-party assurance that the value of USDC reserves is greater than USDC in circulation. Circle also states that Deloitte & Touche LLP is Circle's independent auditor and has audited Circle's financials since fiscal 2022.
4. Redemption Mechanism
Circle's USDC terms state that users with a Circle Mint account in good standing can issue USDC for USD and redeem USDC for USD directly with Circle, subject to the terms, applicable law, and fees where applicable. The same terms state that users without a Circle Mint account may not redeem USDC with Circle unless and until they open an eligible Circle Mint account.
Trading USDC through an exchange or liquidity pool is different from direct redemption with Circle because third-party venue prices depend on liquidity, fees, routing, and market access.
5. Market Cap, Price and Exchanges
USDC market cap, price, volume, and exchange listings update continuously. On May 7, 2026, Circle's USDC page showed 77.8 billion USDC in circulation as of May 4, 2026, while CoinGecko and CoinMarketCap provided live market cap, supply, price, and exchange market data.
| Current market cap | Use live CoinGecko or CoinMarketCap data because the figure updates intraday |
|---|---|
| Circle supply figure | Circle showed 77.8B USDC in circulation as of May 4, 2026 on its USDC page |
| Price history source | CoinGecko lists live price, 24h range, all-time high, and all-time low |
6. Supported Chains and Contract Addresses
Circle developer docs publish official USDC contract addresses for supported mainnets. Circle also states that USDC is natively supported on dozens of blockchain networks. Contract addresses below are common mainnet examples; verify against Circle docs before any transfer.
| Chain | USDC contract / token address |
|---|---|
| Ethereum | 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 |
| Arbitrum | 0xaf88d065e77c8cc2239327c5edb3a432268e5831 |
| Avalanche C-Chain | 0xb97ef9ef8734c71904d8002f8b6bc66ddd9c48a6e |
| Base | 0x833589fcd6edb6e08f4c7c32d4f71b54bda02913 |
| Solana | EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v |
Before sending USDC, check the recipient address
Stablecoin reserves do not verify the destination wallet. If you are sending USDC to an EVM address, scan the address for blacklist and behavior signals first.
Open Address Risk Checker7. Holder Yield and DeFi Yield Comparison
Circle's USDC terms state that USDC does not itself generate interest or return for holders, and that holders are not entitled to interest or other returns earned on reserve assets. Any yield shown by a lending market, exchange product, or DeFi protocol comes from that venue's separate mechanics and terms.
Check live USDC DeFi rates
Earning yield on USDC? Compare current USDC APY across Aave, Compound, Spark, Fluid and other tracked DeFi markets.
8. Comparison Data Points
This page is not a recommendation or a full stablecoin comparison. The fields below are the data points to compare when looking at USDC next to USDT, PYUSD, FDUSD, USD1, or USDS.
| Market cap | Circle, CoinGecko, and CoinMarketCap market data pages |
|---|---|
| Reserve composition | Circle Reserve Fund, short-dated Treasuries, overnight Treasury repo, and bank deposits as disclosed by Circle |
| Attestation format | Monthly third-party reserve assurance reports and weekly reserve disclosures |
| Direct redemption | Circle Mint account required, subject to terms and eligibility |
| Holder yield | No built-in token yield; third-party products may have separate yield mechanics |