The stablecoin market has become pretty crowded in recent years but USD Coin stands outside the competition with one simple strategy- Transparency.
Giving users the assurance that they will be able to withdraw 1 USDC and receive $1 in return without any issues is the key goal behind any stablecoin. USDC says “a major accounting firm is tasked with verifying the levels of cash that are held in reserve, and ensuring this matches up with the number of tokens in circulation.” to give users that transparency they desire before utilizing their stablecoin.
Circle and Coinbase who use USDC have also achieved regulatory compliance — and this has helped pave the way for international expansion. Both projects are also well-funded, giving the stablecoin certainty.