USDC (USD Coin) — USDC is a fully-reserved, 1:1 USD-backed stablecoin issued by Circle. Kronos holds user USD balances as USDC via our banking partner, our licensed on/off-ramp partner — settled on Solana for near-instant, near-zero-cost transfers.
USDC is issued by Circle, a U.S.-regulated financial-technology firm. Every USDC is backed 1:1 by cash and short-dated U.S. Treasuries; reserves are attested monthly by a Big Four accounting firm.
For Kronos users, USDC is invisible — you see "USD balance" in the app — but the underlying ledger settles in USDC on Solana so balances move 24/7 with sub-second finality and near-zero fees.
Your Kronos USD balance is held as USDC on Solana, provisioned through our banking partner, our licensed USD ↔ stablecoin counterparty. Deposits via ACH land as USDC; withdrawals off-ramp back to USD before hitting your bank. P2P sends are USDC wallet-to-wallet — instant and free.
USDC — issued by Circle, settled on Solana, provisioned through our our banking partner integration.
USDC itself is not FDIC-insured (stablecoins are not deposits). Circle holds reserves at regulated U.S. financial institutions and publishes monthly attestations.