USDC (USD Coin) is a type of digital currency designed to be a digital version of the US dollar, with each USDC token representing one US dollar. It's also known as a stablecoin, which means that the value of USDC is meant to be stable.
When you load money into Sling Money, it’s converted to USDC in your wallet, and all transfers between Sling Money users are conducted in USDC. When you move money from your Sling Wallet into your bank account, it’s automatically converted into whatever currency you have designated.
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USDC is issued by Circle Internet Financial and is backed by real US dollars that are held in reserve by regulated financial institutions. This is meant to ensure that for every USDC token in circulation, there is an equivalent amount of US dollars held in reserve. This helps to provide confidence in the value of USDC and reduce the risk of price fluctuations.
Este artigo foi traduzido utilizando Inteligência Artificial generativa.