USDC is the world's fastest-growing, fully regulated, US dollar-backed digital stable dollar currency*. It is the currency we work with at Dollarize.
According to USDC, the stable currency is fully backed by cash and cash equivalents and U.S. Treasury bonds. Being short duration, it is always redeemable 1:1 for U.S. dollars. Each month they publish Grant Thornton certification reports regarding the reserve balances backing USDC.