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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.
USD Coin is a fiat-backed digital currency created by Circle and managed by a consortium called Center. Pegged to the US dollar, the USD coin is the second most popular stablecoin after Tether.
That was partly because of the sheer volume of dollars pumped into the banking system due to the Reserve Bank of India's routine interventions to cushion the rupee's fall, traders said.