How to Get USDC on Algorand

Stablecoins like USDC are becoming a game-changer for the digital finance ecosystem. USDC is stablecoin tied to the US dollar that’s fully backed by highly liquid cash and cash equivalents, which makes it stable, transparent, and easy to redeem 1:1 for US dollars. But not all blockchains handle USDC the same way. That’s where Algorand comes in — it’s fast, secure, and inexpensive¹ to use, making it a suitable option to hold and move USDC.

In this guide, we’ll break down why USDC on Algorand is a good choice, what makes it different, and the easiest way to get started so you can start using digital dollars today.

What is USDC?

As a quick reminder, USDC is a stablecoin — a type of cryptocurrency designed to maintain a stable value — that’s backed 100% by highly liquid cash and cash-equivalent assets. USDC leverages the power of the internet and blockchain technology to be transferable almost anywhere with near-instant settlement and near-zero fees. USDC is readily available to those with an internet connection and a digital wallet in more than 180 countries around the world.

Because USDC operates on blockchain networks, transactions are processed rapidly and efficiently without the need for traditional banking intermediaries. Blockchains function continuously, 24/7, eliminating delays associated with bank operating hours, holidays, or cross-border settlements. This constant availability allows for near-instant transfer of funds at any time, reducing both the time and cost typically involved in moving money globally.

What is Algorand?

Algorand is a blockchain built to be fast, secure, and cost-effective, making it a suitable option for uses like digital payments, decentralized apps (dApps), financial services, and more. While some blockchains struggle with slow transactions and relatively high fees, Algorand is designed to handle a large number of transactions per second.

One of the key reasons Algorand is so efficient is its pure proof-of-stake (PPoS) consensus mechanism — which, in simple terms, is a way to validate transactions without requiring intensive energy use like Bitcoin’s proof-of-work (PoW) model does. But Algorand’s PPoS model is further differentiated from traditional proof-of-stake (PoS) models, too. Both rely on staked tokens to validate transactions, but they function differently.

In a traditional PoS system, validators are chosen based on the amount of cryptocurrency they stake. Instead of favoring those with the most ALGO staked, Algorand’s PPoS system randomly selects validators from all ALGO token holders, regardless of how much they own.

Algorand also supports smart contracts, which are self-executing agreements that allow developers to build things like decentralized finance (DeFi) platforms, games, and other kinds of dApps directly on the blockchain. Whether you're a developer or just someone looking for a faster and cheaper way to send digital money, Algorand is a viable option in the blockchain space.

What is Algorand-native USDC?

Each blockchain has its own way of managing digital assets. Algorand uses something called Algorand Standard Assets (ASA) to create and manage tokens, including USDC. Think of ASA as a universal format for digital assets on Algorand. It’s a set of rules that helps all tokens — whether they’re stablecoins like USDC, digital collectibles, or other assets — work smoothly across wallets, dApps, and crypto exchanges within the Algorand ecosystem. This means USDC on Algorand follows the ASA standard, making it easier to send, receive, and integrate with other projects built on the network.

Note: you may sometimes see Algorand-native USDC referred to as USDCa — this is one and the same asset.

Circle launched USDC on Algorand in 2020. As of March 2025, there’s over $100 million USDC in circulation on Algorand.

Why use USDC on Algorand?

While USDC is available on multiple blockchains, using it on Algorand provides some advantages:

• Speed: Algorand’s high-performance blockchain finalizes USDC transactions in seconds, resulting in rapid settlements for users.
• Low fees: Transactions on Algorand are cost-efficient, making USDC transfers cheaper than some other more congested networks.¹
• Ecosystem access: Algorand’s growing DeFi and payments ecosystem enables seamless USDC usage across financial applications, including remittances, trading, and more.

These features position Algorand-based USDC as a good option for users prioritizing speed, affordability, and scalability.

Understanding crypto exchanges and crypto wallets

Before diving into the step-by-step process of acquiring USDC on Algorand, it’s important to understand the platforms and tools you’ll use: crypto exchanges and wallets.

Crypto exchanges are platforms where users can buy, sell, and trade cryptocurrencies. They act as intermediaries between buyers and sellers and often allow fiat-to-crypto and crypto-to-fiat transactions, making it possible for users to on- and off-ramp to and from digital assets like USDC. There are two main types of crypto exchanges:

• Centralized exchanges (CEXs): These platforms are managed by companies and often include user-friendly interfaces and robust customer support. However, assets purchased on a CEX are stored in exchange-based crypto wallets that are custodial, meaning users must trust the CEX to custody and secure their assets. Users don’t have full control over their assets unless they withdraw them to a non-custodial wallet.
• Decentralized exchanges (DEXs): These are decentralized, blockchain-based platforms where trades are conducted without a central authority. Instead users make peer-to-peer trades with the assistance of smart contracts. Connecting to a DEX requires connecting a compatible non-custodial crypto wallet. Non-custodial wallets offer greater control over your assets, but more responsibility for securing them. Likewise, DEXs offer greater control over the trading experience, but can be more complex to use.

Crypto wallets are tools for securely storing and managing your digital assets. Crypto wallets are divided into two main categories:

• Custodial wallets: Often provided by CEXs, these wallets are convenient but rely on the exchange to manage your assets’ associated private keys.
• Non-custodial wallets: These give users full control over their funds and private keys (or recovery phrases), but require careful management to avoid loss.

By understanding the differences between exchanges and wallets, you can make informed decisions about where to buy, store, and manage your USDC, and find the balance of convenience and security that’s right for you.

Step-by-step guide to get USDC on Algorand

Getting USDC on Algorand is easy, and you have a few different options depending on what works best for you. A simple method is to buy Algorand-native USDC directly from a centralized exchange (CEX) that lets you purchase it with traditional money (i.e., fiat currency). This is the quickest and most beginner-friendly option.

If you prefer a more decentralized approach, you can transfer USDC from another blockchain using a supported bridge or trade for USDC on an Algorand-compatible decentralized exchange (DEX). These methods give you more flexibility but may require a few extra steps.

Below, we’ll walk you through the main ways to get USDC on Algorand with step-by-step guides.

1. Use a centralized crypto exchange (CEX) to buy USDC on Algorand

Some centralized exchanges (CEXs), such as Coinbase, support native USDC on Algorand. When purchasing USDC through an Algorand-compatible CEX, you can elect for your tokens to be issued on the Algorand blockchain.

To get started, follow these steps:

1. Create an account: Choose a CEX that operates in your region and supports USDC on Algorand. Complete any required identity verification processes in order to create your account.
2. Deposit funds: Add fiat currency to your exchange account via a bank transfer, debit/credit card, or other supported payment methods. Be mindful of any deposit fees.
3. Buy USDC: Select USDC and make sure to specify the Algorand network during your purchase. Enter the amount and confirm. Your USDC will be issued directly on Algorand.

After purchasing, you can store your USDC in your exchange-based wallet or transfer it to an Algorand-compatible non-custodial wallet for use with dApps on the Algorand network.

2. Use a decentralized crypto exchange (DEX) to swap for USDC on Algorand

If you hold Algorand-native assets (e.g., ALGO) in a non-custodial wallet, you can trade for USDC through decentralized exchanges (DEXs) like Folks Finance or Tinyman. To do so, follow these steps:

1. Connect to a DEX: Use an Algorand-compatible wallet such as Pera Wallet to connect to your chosen DEX. Always verify you’re on the legitimate platform to avoid scams. Keep in mind that each DEX has its own fee structure in addition to standard Algorand network transaction fees, so make sure to understand them clearly before proceeding.
2. Select a trading pair: Choose the ALGO/USDC trading pair or another available option based on the asset you wish to trade for USDC. 
3. Execute the trade: Enter the amount of USDC you want to receive, confirm the transaction details, and approve the swap. Once the transaction is completed, USDC will be available in your wallet. Be sure to have enough ALGO in your wallet to cover those previously mentioned network fees.

3. Use the built-in swap function in a self-custody wallet like Pera Wallet

Self-custody wallets compatible with Algorand, such as Pera Wallet, allow users to seamlessly swap assets for USDC on the Algorand blockchain. If you hold ALGO or another supported asset, you can use your wallet’s swap feature to trade directly for USDC.

1. Open the swap function: Navigate to your wallet’s trade section and choose the asset you want to exchange, such as ALGO.
2. Select USDC on Algorand: Set USDC as your receiving asset and input trade details.
3. Review and confirm: Verify transaction specifics and approve the trade.

If your transaction fails, consider adjusting slippage tolerance or making sure your ALGO balance covers any applicable transaction fees. Use Algorand’s blockchain explorer, PeraExplorer, to check network status for congestion or delays.

4. Use an Algorand-USDC bridge

We’ve spoken a bit about cross-chain swaps, and how some wallets and DEXs support the function of transferring an asset between two different blockchains. But in the case of USDC, there are two distinct ways to transfer USDC to another blockchain network, and the key distinction revolves around native vs bridged USDC.

As a reminder, native USDC originates directly from Circle on a particular blockchain, and is fully supported by the originating blockchain. Bridged USDC, however, is created when USDC is locked in a smart contract on one blockchain (i.e., the origin blockchain) and a “synthetic” or “bridged” form of USDC is minted (or created) on another supported blockchain (i.e., the destination blockchain) by a third-party bridge dApp. Crucially, bridged USDC is not issued by Circle, and only native USDC, issued through regulated affiliates of Circle, is fully reserved and redeemable 1:1. Many blockchains support both native and bridged USDC — so you should always be aware of which version you’re interacting with. If you’re not sure which version of USDC you’re dealing with, compare the token’s contract address on a blockchain explorer (e.g., Pera Explorer) with the official list provided by Circle.

Most USDC obtained from centralized exchanges is native. USDC transferred between blockchains with a bridge may be native or bridged, depending on whether the bridge is powered by Cross-Chain Transfer Protocol (CCTP). Developed by Circle as a permissionless tool for transferring USDC between supported blockchains, CCTP is a powerful tool that burns (or destroys) USDC on one chain, and mints native USDC on another supported destination chain without having to keep any USDC “locked” in a smart contract. Transferring USDC natively is a better alternative to using a traditional bridge, whose security protocols may not be as robust as Circle’s, the issuer of USDC.

CCTP is integrated into wallets like MetaMask, DEXs like OKX (not to be confused with the centralized exchange, OKX), and cross-chain bridges like Across, Allbridge, and Wormhole — just to name a few. Learn more about CCTP and see a complete list of dApp integrations here. Then use CCTP-powered platforms to seamlessly bridge native USDC between supported blockchains.

Important considerations about USDC on Algorand

Before sending or receiving USDC on Algorand, there are a few key things to keep in mind to avoid mishaps or unnecessary fees. First, make sure your exchange and wallet support Algorand’s version of USDC — not all platforms do, and some may only recognize bridged versions from other networks. Bridged USDC means it was originally issued on a different blockchain and then moved to Algorand, which can sometimes entail extra fees and processing steps. This is a critically important step, and users should always be diligent to ensure compatibility before transacting. Failure to do so can result in the loss of funds.

You’ll also need some ALGO in your wallet to cover transaction fees. Just like paying a small service fee when sending money through a bank or payment app, Algorand requires ALGO for transactions. The fees are tiny compared to other blockchains, but without the necessary amount of ALGO to cover transaction costs, your transaction won’t go through.

If you're new to using USDC on Algorand, it’s smart to start with a small test transfer before moving larger amounts. This way, you can double-check that everything is working correctly before making a bigger transaction. 

How to use USDC on Algorand

USDC on Algorand gives you the reliability of a dollar-backed stablecoin and the speed and low fees of Algorand’s blockchain. So whether you're new to crypto or a seasoned user, managing USDC on Algorand is easy. Once you have USDC in your wallet, you can send your USDC to friends, use it with compatible DeFi applications, or make digital payments on-chain, all through Algorand’s ecosystem.

All you need is a compatible wallet and a little ALGO for transaction fees, and you’re ready to go. By following our simple step-by-step guide, you'll be using USDC on Algorand in no time.

In addition to Algorand, native USDC is available on more than 15 blockchains. All are part of a growing list of network integrations for USDC. For more information on USDC and the dApps, exchanges, wallets, and other businesses that support it, check out our USDC Ecosystem Catalog.