Velo uses USDC as its underlying currency. This means that all deposits, withdrawals, and transfers on Velo are made using USDC. This has a number of advantages:
It makes it easy to send and receive money globally, without having to worry about exchange rates.
It provides users with a stable currency, which is not subject to the volatility of other cryptocurrencies.
It makes it easy to convert USDC to other currencies, if needed.
Overall, Velo's use of USDC makes it a convenient and reliable way to manage and transfer money.