Understanding USDC
USDC is the digital dollar that powers fast, reliable transfers on CaribSend.
What is USDC?
USDC (USD Coin) is a stablecoin — a type of cryptocurrency designed to maintain a stable value. Unlike Bitcoin or Ethereum which can swing 10-20% in a day, USDC is always worth exactly $1.00 USD.
Who Issues USDC?
Circle Internet Financial
USDC is issued by Circle, a licensed US financial technology company. Circle is regulated as a money transmitter in all 50 US states.
- ✓ Registered Money Services Business (MSB) with FinCEN
- ✓ Monthly reserve attestations by Grant Thornton
- ✓ Reserves held in US banks and short-dated treasuries
Why CaribSend Uses USDC
Stability
1 USDC = $1 USD. No volatility risk for senders, merchants, or recipients.
Speed
Transfers settle in seconds on Base network, not days like traditional banking.
Low Fees
Base network transaction fees are under $0.01. No correspondent bank fees.
Trust
Circle is a regulated company. Reserves are audited and publicly reported.
USDC vs Bank Dollars
| USDC | Bank USD | |
|---|---|---|
| Transfer Speed | Seconds | 1-5 business days |
| Availability | 24/7/365 | Banking hours |
| Cross-Border Fees | ~$0.01 | $25-50+ |
| Minimum Amount | $0.01 | Often $100+ |
| Transparency | On-chain, auditable | Opaque |
How USDC Stays at $1
Every USDC in circulation is backed 1:1 by real US dollars held in reserve accounts:
Short-dated US Treasuries
Cash in US banks
Circle publishes monthly attestation reports verifying these reserves.View reports
Ready to set up your wallet?
Learn how to create a wallet to hold USDC.