What's the difference between usdt and usdc? Take you through a comprehensive analysis.

Speaking of USDC and USDT, investors who know something about the currency circle may know that both USDC and USDT are stable currencies, while investors who have just entered the currency circle may only have heard of USDT. After all, USDT is the most common stable currency at present, and it can even be said that it is the most frequently used stable currency in the currency circle, and USDC can be said to be the more popular stable currency of USDC in recent years. For such investors, I will give you a comprehensive analysis below. Is USDC the same as USDT?

Here, I want to tell you that USDC and USDT are different, although both USDC and USDT are stable currencies.

1. TEDA

USDT is a stable currency issued by TEDA, with anchor 1: 1 USD, which can be understood as 1 USD = 1 USD. The Chinese name of USDT is TEDA currency. According to official website, the current market value of USDT is about US$ 654.38+05.4 billion, making it a leader among stable currencies, with a market share of over 70%.

The biggest problem of USDT is opacity. Although USDT claims that every USDT is issued, it will be deposited in the bank at 1 USD, but I'm afraid only TEDA knows the real situation. An American government agency even pointed out that the reserve of USDT was only 70% at a certain period (that is, USDT issued 100 USD, but actually deposited $70 in the bank). In short, USDT has never published an audit report, which has aroused many people's doubts.

2.USDC

USDC is issued by Bitland, Goldman Sachs Group, IDG, CICC, China Everbright and Circle invested by Baidu. It is a fully mortgaged stable dollar currency. Grant Thornton, a professional service company, publicly releases the financial status report of USDC released by Circle every month. Circle, the distribution company behind USDC, currently has payment licenses in all states except Hawaii, Britain and the European Union, and BitLicense in New York State. It is the company with the largest number of licenses in the encrypted asset industry in the world, and has compliance channels for the entry and exit of encrypted assets in three currencies: USD, GBP and EUR.

In addition, USDC has become the only stable currency supported by the US Bitcoin base exchange. Compared with USDT, USDC is more transparent and open, and now it ranks second in market value, second only to USDT.