USDC

USD Coin (USDC) is a stablecoin issued by Circle, a U.S.-regulated financial technology company. Each USDC is backed one-to-one by cash and short-duration U.S. Treasury securities held in regulated U.S. financial institutions, with monthly third-party attestations.

USDC is commonly used for on-chain dollar transfers, crypto trading, and earning yield in DeFi. It's one of the more conservative stablecoin choices for U.S. users because of its regulatory posture and transparent reserves.

Why it matters for Milo customers

Milo does not accept USDC. Collateral must be one of the coins on Milo's accepted list, and loan funding and payments are made in U.S. dollars through your bank account. Borrowers who hold USDC convert to USD before transacting with Milo.

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