USD//Coin is a fully collateralized US Dollar stablecoin based on CENTRE's open source fiat stablecoin framework. Circle is the first of several forthcoming CENTRE members to launch USDC issuance.
USDC is built on openness andShow more [+] accountability, enshrined in the governance and technology standards effort of CENTRE. Commercial issuers of USDC are required by CENTRE to: be licensed to handle electronic money, such as banking, money transmission or trust charters; have audited AML and Compliance programs that meet FATF standards; back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors; support fungible exchange and redemption of USDC tokens from other authorized issuer members; meet other reporting and review requirements established by CENTRE.
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