What is USDC?

At Higlobe, we use USDC (USD Coin) to transfer funds and hold customer balances. While your funds are in your Higlobe account, your balance is stored in the form of USDC. We specifically choose USDC over other stablecoins like USDT (Tether) because USDC is widely considered a safer, more transparent, and more strictly regulated digital asset.

Unlike USDT, which has faced historical scrutiny over its offshore operations and the composition of its reserves, USDC is issued by Circle, a U.S.-regulated financial institution. USDC is backed 100% by highly liquid assets specifically cash and short-term U.S. Treasury bonds, held in the custody of reputable U.S. financial institutions. Furthermore, USDC undergoes monthly independent audits and is fully compliant with major regulatory frameworks, including the EU’s MiCA (Markets in Crypto-Assets) standards. This ensures that your money is always backed 1:1 by secure reserves. When you make a withdrawal from your Higlobe account to your local bank, we convert the amount you are withdrawing from USDC into your local currency.

USDC, also known as USD Coin, is a fully reserved stablecoin managed by Circle Internet Financial, LLC. A “stablecoin” is a form of digital currency that is designed to maintain a constant dollar value by maintaining a store of cash and cash equivalent reserves that the stablecoin can be exchanged for. USDC is backed by dollar-denominated assets such as cash and U.S. Treasury bonds that have a value equal to or greater than the amount of USDC in circulation. Each USD Coin is fully redeemable for one US dollar, at all times. 

Detailed information about USDC, how it is managed and how the reserves are maintained is available through the Circle website: Transparency & Stability - Circle.

Even though Higlobe utilizes stablecoins, we want to emphasize that Higlobe is not a cryptocurrency exchange. We are a payment platform that enables contractors and other freelance workers in Mexico, Brazil, and other countries to be paid by American companies or individuals for the services they perform.
 

If you need any further assistance, our Support team is available from 9:00 AM to 6:00 PM, Monday to Friday via Live Chat, Whatsapp or by email at support@higlobe.com.