Convert and Swap USDC USDC to Philippine Peso PHP
USDC/PHP: 1 USDC equals ₱58.62 PHP
Last update: 5:04 AM, December 23, 2024
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USDC is falling this week.
The current price of USDC is ₱58.62 per USDC. With a circulating supply of 42,935,306,185.2 USDC, it means that USDC has a total market cap of ₱2,517,515,500,525.31. The amount of USDC traded has fallen by ₱15,968,539,694.50 in the last 24 hours, which is a 3.96% decrease. Additionally, in the last day, ₱403,703,880,747.31 worth of USDC has been traded.
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About USDC
USDC is a digital dollar issued by Circle that is fully backed by US dollars and US dollar equivalents. USDC was developed to represent a US Dollar equivalent onchain, and is used to send, store, and receive money between people and businesses without the need for third-party financial institutions.
USDC, or USD Coin, is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. This means that for every unit of USDC in circulation, there is $1 held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, the organization behind USDC, ensures that this cryptocurrency is issued by regulated financial institutions. USDC was launched in September 2018 with the aim of providing a digital currency for the digital age. It is designed for a world where cashless transactions are becoming increasingly common.
USDC operates as an ERC-20 token on the Ethereum blockchain. This means that it can be integrated with Ethereum-based applications, providing security and confidence in the stablecoin. The assurance that users can withdraw 1 USDC and receive $1 in return without any issues is a key aspect of how USDC works. To ensure this, a major accounting firm is tasked with verifying the levels of cash held in reserve and ensuring this matches up with the number of tokens in circulation. The number of USDC that can exist is limitless, with new coins created in line with demand, whenever someone wants to purchase one with their dollar.
USDC has several potential use cases. It can provide a safe haven for crypto traders in times of volatility, allowing them to hold their value in a stable asset. Businesses can also use USDC to accept payments in digital assets, potentially shaking up sectors such as decentralized finance and gaming. The goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers, and decentralized applications (dApps) as possible. This aims to enhance the cryptocurrency space by providing a stable and reliable digital currency.
USDC was launched in September 2018 by the Centre Consortium, which has two founding members: the peer-to-peer payment services company Circle and the cryptocurrency exchange Coinbase. In 2020, Circle and Coinbase announced a major upgrade to USDC’s protocol and smart contract, with the goal of making it easier for USDC to be used for everyday payments, commerce, and peer-to-peer transactions. Unlike some crypto ventures, Circle and Coinbase have achieved regulatory compliance, which has helped pave the way for international expansion. Both projects are also well-funded, giving the stablecoin certainty. The transparency over the provenance of its funds has been a big reason for USDC's success.
How USDC and Philippine Peso differ
USDC and the Philippine Peso (PHP) are both forms of currency, but they operate in fundamentally different ways. USDC, or USD Coin, is a type of cryptocurrency known as a stablecoin, which is pegged to the U.S. dollar on a 1:1 basis. This means that for every USDC in circulation, there is an equivalent $1 held in reserve. It operates as an ERC-20 token on the Ethereum blockchain, allowing it to be integrated with Ethereum-based applications. USDC aims to provide a digital currency for a world where cashless transactions are increasingly common, and it can be used in various sectors such as decentralized finance and gaming. On the other hand, the Philippine Peso is a traditional fiat currency issued by the Central Bank of the Philippines. It is used for all types of transactions within the Philippines, from buying goods and services to paying taxes. Unlike USDC, the value of PHP is not pegged to another currency and can fluctuate based on factors such as inflation, economic performance, and foreign exchange market dynamics.
Frequently asked questions
How much is 1 USDC in PHP?
Right now, 1 USDC is worth about ₱58.62.
How much USDC could I buy for 1 PHP?
Based on the current rate, you could get 0.0171 USDC for 1 PHP.
How do I calculate or convert USDC to PHP?
You can use our USDC to PHP calculator at the top of this page to convert any amount of USDC to PHP. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 PHP is equivalent to 0.0853 USDC. Inversely, 5 USDC will cost about ₱293.12
How can I buy 1 USDC on Coinbase?
USDC is currently available to buy on Coinbase's centralized exchange. Check out our guide to get more detailed instructions on how to buy USDC.
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USDC to Philippine Peso conversion tables
The exchange rate of USDC is increasing.
The current value of 1 USDC is ₱58.62 PHP. In other words, to buy 5 USDC, it would cost you ₱293.12 PHP. Inversely, ₱1.00 PHP would allow you to trade for 0.0171 USDC while ₱50.00 PHP would convert to 0.8529 USDC, not including platform or gas fees.
In the last 7 days, the exchange rate has increased by 0%. Meanwhile, in the last 24 hours, the rate has changed by 0%, which means that the the highest exchange rate of 1 USDC to Philippine Peso was ₱58.84 PHP and the lowest 24 hour value was 1 USDC for ₱58.60 PHP. This time last month, the value of 1 USDC was ₱58.95 PHP, which is a 0% decrease from where it is now. Looking back a year, USDC has changed by ₱55.40 PHP.
USDC to PHP performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
₱58.81 PHP | 0.00% | ₱58.68 PHP | 0.00% | ₱58.95 PHP | 0.00% | ₱55.40 PHP | 0.00% |
USDC to PHP
Amount | Today at 5:04 am |
|---|---|
0.5 USDC | ₱29.31 |
1 USDC | ₱58.62 |
5 USDC | ₱293.12 |
10 USDC | ₱586.23 |
50 USDC | ₱2,931.17 |
100 USDC | ₱5,862.33 |
500 USDC | ₱29,311.67 |
1,000 USDC | ₱58,623.33 |
PHP to USDC
Amount | Today at 5:04 am |
|---|---|
0.5 PHP | 0.0085 USDC |
1 PHP | 0.0171 USDC |
5 PHP | 0.0853 USDC |
10 PHP | 0.17 USDC |
50 PHP | 0.85 USDC |
100 PHP | 1.71 USDC |
500 PHP | 8.53 USDC |
1,000 PHP | 17.06 USDC |
Today vs. 24 hours ago
Amount | Today at 5:04 am | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 USDC | ₱29.31 | ₱29.31 | 0.00% |
1 USDC | ₱58.62 | ₱58.62 | 0.00% |
5 USDC | ₱293.12 | ₱293.12 | 0.00% |
10 USDC | ₱586.23 | ₱586.23 | 0.00% |
50 USDC | ₱2,931.17 | ₱2,931.17 | 0.00% |
100 USDC | ₱5,862.33 | ₱5,862.33 | 0.00% |
500 USDC | ₱29,311.67 | ₱29,311.67 | 0.00% |
1,000 USDC | ₱58,623.33 | ₱58,623.33 | 0.00% |
Today vs. 1 month ago
Amount | Today at 5:04 am | 1 months ago | 1M Change |
|---|---|---|---|
0.5 USDC | ₱29.31 | ₱29.31 | 0.00% |
1 USDC | ₱58.62 | ₱58.62 | 0.00% |
5 USDC | ₱293.12 | ₱293.12 | 0.00% |
10 USDC | ₱586.23 | ₱586.23 | 0.00% |
50 USDC | ₱2,931.17 | ₱2,931.17 | 0.00% |
100 USDC | ₱5,862.33 | ₱5,862.33 | 0.00% |
500 USDC | ₱29,311.67 | ₱29,311.67 | 0.00% |
1,000 USDC | ₱58,623.33 | ₱58,623.33 | 0.00% |
Today vs. 1 year ago
Amount | Today at 5:04 am | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 USDC | ₱29.31 | ₱29.31 | 0.00% |
1 USDC | ₱58.62 | ₱58.62 | 0.00% |
5 USDC | ₱293.12 | ₱293.12 | 0.00% |
10 USDC | ₱586.23 | ₱586.23 | 0.00% |
50 USDC | ₱2,931.17 | ₱2,931.17 | 0.00% |
100 USDC | ₱5,862.33 | ₱5,862.33 | 0.00% |
500 USDC | ₱29,311.67 | ₱29,311.67 | 0.00% |
1,000 USDC | ₱58,623.33 | ₱58,623.33 | 0.00% |
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This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Coinbase to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Coinbase exchange as well as other cryptocurrency exchanges and market data platform. Coinbase may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content.