When we look at it from a functional viewpoint, USDC is similar to other stablecoins in the sense that it offers a similar function to maintain the value to $1. Additionally, USDC, just like any other stablecoin, aims to work like a digital currency and allow all of the benefits associated with blockchain technology. This includes the ability for the cryptocurrency to be transferred across crypto wallet addresses and to find utility in DeFi and dApps. It aims to be a stable alternative to other volatile cryptocurrencies. However, in the case of stablecoins specifically, the most important factors are transparency and trustworthiness. This is what makes USD Coin (USDC) a bit more unique when compared to other stablecoins. Centre, which is the consortium that manages the USD Coin cryptocurrency, consistently releases monthly reports which are issued by a top accounting firm in the country known as Grant Thornton, LLP. The reports aim to provide the number of USDC in circulation, alongside access to data surrounding the total value of the reserves that back USD Coin. This essentially showcases that there are funds in an account for every USDC which has been issued.