What is USDC?
USDC is a dollar stablecoin issued by Circle. Each token is meant to be redeemable for one US dollar, backed by cash and short-dated US Treasury bills held in reserve, with monthly reports from an independent accounting firm.
Circle issues USDC natively on many networks. Some networks also carry an older bridged version: USDC.e on Arbitrum, Optimism and Polygon, USDbC on Base. These are different tokens with different contracts, so check which one you hold before you swap or send.
Swaps between two dollar stablecoins, such as USDC to USDT or DAI, cost a 0.01% platform fee on ChainBridge at any size.
Where you can swap USDC
USDC is in the default token list on these networks. ChainBridge compares 0x, KyberSwap and ParaSwap on each of them and keeps the route that leaves you the most after fees and gas.
- Ethereum
- Arbitrum
- Base
- Optimism
- Polygon
- BNB Chain
- Avalanche
- Linea
Native USDC on every network listed. Bridged USDC.e (Arbitrum, Optimism, Polygon) and USDbC (Base) appear as separate tokens.
Common pairs
| Pair | Why traders use it |
|---|---|
| USDC / USDT | Stablecoin pair: 0.01% platform fee and the tightest auto slippage. |
| USDC / ETH | The most common way in and out of ETH. |
| USDC / DAI | Stablecoin pair, also 0.01%. |
| USDC across networks | Move USDC between EVM networks in one step, quoted by Relay and LI.FI. |
Risks to know
Depeg risk
In March 2023 USDC briefly traded well below $1 because part of its reserves sat at Silicon Valley Bank. It recovered once the deposits were secured, but a peg is a promise backed by reserves, not a guarantee.
Issuer controls
Circle can freeze USDC at a given address, for example under a court order. That is how issuer-backed stablecoins work and applies on every network.
Bridged versions
USDC.e and USDbC are backed by USDC locked in a bridge, not by Circle directly. Many apps now prefer native USDC, so liquidity for bridged versions can be thinner.
How to swap USDC on ChainBridge
Connect your wallet
ChainBridge never holds your funds: the swap executes from your own wallet.
Pick USDC and the token to swap against
Choose the network, then the two tokens and the amount.
Compare the quote
Check the amount you receive, the minimum after slippage, the price impact and every fee. See reading a swap quote.
Review and sign
The transaction is simulated and the token is screened before you sign. A predicted revert or an unsellable token blocks the swap.
FAQ
Is USDC always worth exactly $1?
It is designed to be redeemable for $1 and usually trades within a fraction of a cent of it. It can drift during market stress, as it did briefly in March 2023.
What is the difference between USDC and USDC.e?
USDC is issued by Circle on that network. USDC.e is a bridged version backed by USDC locked on Ethereum. Both aim for $1, but they are separate tokens and not every app accepts both.
Why is a USDC to USDT swap cheaper?
Both sides are dollar stablecoins, so ChainBridge charges a flat 0.01% platform fee instead of the 0.05% to 0.2% tiers used for other pairs.