Crypto mystery we need some help with!

Hello Permie people!

We have a crypto mystery on our hands.

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So, what's the mystery..?

We are trying to pay somebody in the digital market; most people are just paypal; a few checks; and three or four are crypto and now we get this one....

"send USDC from the Ethereum network (ERC20) or send USDC from the Solana network (SPL)"

This USDC thing is all new to us! ETH payment, sure.. Solana payment, yup! But USDC from Ethereum or Solana network? Puzzled.

Could anyone help us to make this thing clearer? Thank you!

It's all a mystery to me...Does this help: fromcoinmarketcap

USDC is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.

Nancy Reading wrote:It's all a mystery to me...Does this help: fromcoinmarketcap

USDC is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.

Unfortunately no, that does not help. If they asked us to do a Solana payment, we would be good to go.. But sending USDC from Solana network... Confused!

Thanks anyway Nancy! :)

Hello Saana.  

Are they requesting that you pay them in USDC?

What do you usually send?

We would have to have USDC to do this.   Some of Paul's money would have to be converted to USDC and sent.

I think an easy reply would be that we will pay them in eth.  

I read that as United States Dollars Cryto and I was wrong:

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a tokenized U.S. dollar, with the value of one USDC coin pegged as close to the value of one U.S. dollar as it can get.

https://www.investopedia.com/usd-coin-5210435