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TagsWhat are the differences between USDC and Tether?
Chinaya BanarasMar 18, 2022 · 3 years ago1 answersCan you explain the key differences between USDC and Tether? I'm interested in understanding the variations in terms of their underlying technology, stability, and regulatory compliance.
1 answers
- USDC and Tether are both stablecoins, but they have significant differences. USDC is an ERC-20 token built on the Ethereum blockchain, while Tether operates on multiple blockchains. USDC is backed by a reserve of US dollars held in a bank account, which is regularly audited to ensure transparency and stability. Tether, on the other hand, has faced questions about the composition of its reserves and lacks the same level of transparency. USDC is issued by regulated financial institutions, providing users with a more secure and compliant option compared to Tether.Mar 18, 2022 · 3 years ago
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