---
title: "Galaxy USDC (arcUSDC) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/arcusdc-galaxy/"
description: "Build-time stablecoin profile for Galaxy USDC (arcUSDC). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Galaxy USDC (arcUSDC)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Galaxy USDC holds a USDC-denominated lending position against cirBTC on Arc. Holders own a pro-rata vault claim whose conversion rate reflects accrued interest and losses, without an independently established legal claim on Circle's reserve fund. The vault owner and curator are externally owned accounts, and several parameter changes have no delay. Its liquidity adapter was unset at the pinned review block, so ordinary withdrawal capacity cannot be inferred from total assets. Transfer and direct withdrawal gates are abdicated, but an in-kind exit still requires a workable underlying-market transaction and does not guarantee dollar settlement.

## Collateral

USDC lender positions in a single Morpho market secured by cirBTC on Arc

## Peg Mechanism

ERC-4626 shares accrue lending interest and realize losses against USDC; direct redemption uses idle USDC and a configured liquidity adapter, subject to market liquidity. In-kind deallocation retains underlying lending-position exposure.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| arc | `0x8e357432cc12ff425c36432f312968aeb16112af` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/arcusdc-galaxy.