What Is USDC? Circle's Dollar Stablecoin Explained (2026)

USDC (USD Coin) is a stablecoin pegged to the US dollar: 1 USDC is worth about 1 dollar. It is issued by Circle, an American financial technology company, and each token is backed by dollar reserves. In Europe, USDC has been MiCA compliant since July 2024, which means it can be used to pay at equipped merchants.

Updated on 1 November 2026.

Who issues USDC?

USDC is issued by Circle, founded in 2013 by Jeremy Allaire and Sean Neville. Launched in 2018, it is now one of the two leading dollar stablecoins. Circle also issues EURC, its euro equivalent.

In July 2024, Circle obtained an electronic money institution licence in France from the ACPR. USDC and EURC thus became the first stablecoins from a global issuer to comply with MiCA.

How does USDC keep its value?

• Reserves: each USDC in circulation is backed by dollar assets, in cash and short-term US Treasury securities.
• Redemption: USDC can be exchanged for dollars at par, through Circle and its partners.
• Transparency: Circle publishes regular attestations on its reserves, carried out by an independent firm.

Which blockchains does USDC run on?

USDC exists on many blockchains. With Lyzi, it is accepted directly on six networks: Ethereum, Polygon, Arbitrum One, Base, OP Mainnet and Avalanche C-Chain. Before sending, always check that the network you choose matches the one shown on the payment page.

USDC, USDT, EURC: what's the difference?

• USDC: Circle's digital dollar, MiCA compliant, accepted by Lyzi.
• EURC: Circle's digital euro, MiCA compliant, accepted by Lyzi. EURC explained.
• USDT: not MiCA compliant, so not accepted directly. You can exchange your USDT for USDC through the Lyzi swap, a simplified, multi-chain decentralized finance (DeFi) tool used from your wallet.

How to pay with USDC at a merchant

1. The merchant enters the amount in euros on its terminal, till or payment page.
2. You scan the QR code with your phone's camera.
3. You choose USDC and the network, then confirm from your wallet or exchange.
4. The payment is confirmed in about 2 minutes; the merchant is settled in euros or stablecoins, with no volatility exposure.

The detailed step-by-step is in the guide to paying with USDC.

For merchants: accepting USDC

Merchants sell online and in store: with Lyzi, a single integration covers both. On existing payment terminals (more than one million compatible terminals), with WooCommerce and PrestaShop plugins, a payment button or link, or by API. The customer pays from the wallet or exchange account that holds their crypto, among more than 500 wallets and integrated exchanges. Stablecoin payments for merchants · Solution for merchants

Frequently asked questions

Is USDC safe?

USDC is backed by dollar reserves and its issuer is regulated in Europe under MiCA. Like any digital asset, its safety also depends on that of your wallet.

Is USDC allowed in Europe?

Yes. It has been MiCA compliant since July 2024.

Can I pay in store with USDC?

Yes, at merchants equipped with Lyzi, by scanning the payment QR code.

What is the difference between USDC and a stablecoin in general?

USDC is one stablecoin among others, pegged to the dollar. See what is a stablecoin.

Sources

Circle: first global stablecoin issuer to comply with MiCA (July 2024)

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