USD Coin (aka USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a type of cryptocurrency that is referred to as a "stablecoin." You can always redeem 1 USD Coin for US $1.00, giving it a stable price. The value of USDC is designed to remain stable, thus why USDC is called a stablecoin! Despite its name, it is important to note that USDC is not issued or backed by the U.S. government.