USDC was introduced in 2018 by Circle
, a fintech company specializing in payment and cryptocurrency services. It is backed by a reserve of US dollars held in FDIC-insured banks.
On the other hand, Tether Limited created USDT in 2014 claiming it maintains a 1:1 ratio with the US dollar. However, Tether has been involved in controversies and legal issues including doubts regarding the amount of reserve funds supporting its tokens.