HalalGauge
USDC · Crypto

Is USD Coin (USDC) halal?

Holding USDC is broadly viewed as permissible because it is essentially a digital dollar — but the issuer earns riba on the reserves, and yield programs are riba.

Fiat-backed stablecoin issued by Circle, redeemable 1:1 for US dollars.

USD Coin — what each scholar says
  • Mufti Faraz Adam (Amanah Advisors)

    Holding for utility (settlements, payments) is permissible. Yield-bearing USDC products are NOT permissible (interest-bearing).

    Source
    Halal
  • Mufti Taqi Usmani

    Holding for transactional purposes is fine; treating USDC as a yield-generating asset is impermissible.

    Doubtful
  • AAOIFI

    No formal standard. The issuer's interest income on reserves is haram; the user's mere holding for transactional purposes is permissible.

    Doubtful
  • Strict / zero-tolerance

    Indirect participation in the interest-based reserve model.

    Not halal
All crypto verdicts How the rulings are sourced

Other cryptoassets

Is Bitcoin halal?Is Ethereum halal?Is Solana halal?Is Tether halal?Is BNB (Binance) halal?Is Ripple halal?Is Cardano halal?Is Dogecoin halal?

HalalGauge surfaces published scholarly views with sourcing; it does not issue fatwa. Crypto rulings are evolving and contested — verify with a scholar you trust before acting.