Digital dollar USDC (stablecoin, cryptocurrency, digital asset) is a digital representation of the U.S. dollar on the Ethereum blockchain. In order to access blockchain-based services, such as the Compound liquidity pool that earns yield, U.S. dollars must be exchanged for the digital dollar USDC. USDC is a cryptocurrency with a stable price of $1 dollar. Unlike other volatile cryptocurrencies, you can redeem $1 USDC for $1 U.S. dollar with the issuer of USDC Coinbase, Circle, or with our partner, Wyre Payments, if you are a member of Linen Wallet. Each USDC is backed by U.S. dollar reserves held in bank accounts of the issuer. Issuers of USDC regularly report their U.S. dollar reserves. Coinbase and Circle are the two leading licensed financial institutions in the U.S. that issue USDCs. Monthly audit reports by a major auditing firm are publicly available.

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