Bridged USDC (Base) Price(USDBC)

Bridged USDC (Base), also known by its token symbol USDbC, is a version of the stablecoin USD Coin (USDC) that was designed to operate on the Base blockchain. It was initially deployed by Coinbase to enable the use of USDC within the Base ecosystem. The primary purpose of USDbC was to provide a stablecoin solution for the Base network, especially before native USDC became directly available on Base. It facilitates transactions and helps in providing initial liquidity on the Base chain. The technology behind USDbC involves a bridging process. When users move USDC from Ethereum to Base, the original USDC tokens are locked in a smart contract on the Ethereum network. An equivalent amount of USDbC is then minted on the Base network, maintaining a 1:1 backing ratio to the locked USDC. This lock-and-mint mechanism allows USDC to maintain its value while being used on different blockchain networks, enhancing interoperability. It is important to understand that USDbC is a bridged version of USDC and is not the native USDC issued directly by Circle, the co-founder of USDC. Unlike native USDC, USDbC cannot be directly redeemed for US Dollars through Circle or transferred using Circle's Cross-Chain Transfer Protocol (CCTP). Its dollar value is derived from the collateral (often native USDC) provided to the bridging protocol. Native USDC became available on the Base network as of September 5, 2023. While USDbC provided crucial stablecoin functionality in the early stages of the Base network, users can now distinguish between bridged and native USDC on Base. Although USDbC can be sent to Coinbase and may appear as USDC within the platform, only native USDC can be withdrawn. This distinction helps clarify that USDbC is the bridged asset on the Base network. Learn more

Looking to buy How to buy USDBC? The process is simple and hassle-free! You can easily purchase USDBC on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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