... cryptocurrency exchange Coinbase. The concept of USDC is similar to Tether: each USDC token is backed by 1 U.S. dollar in the issuer's account. However, the emphasis has been on maximum transparency and collaboration with regulators. Since its launch, monthly audits confirming the full reservation of all issued coins have been published. The rapid rise in popularity of USDC occurred during 2020-2021, when the DeFi boom increased demand for reliable stablecoins for collateral and settlements within protocols....