↘ USDC Stablecoin: Significant Developments and Future Outlook
In a series of recent developments within the crypto market, Circle , the issuer of USDC stablecoin , has applied for a national bank charter...
Circle has struck up revenue sharing deal with ByBit, the second-largest crypto exchange, as well as a zero-fee USDC conversion deal with OKX. Through partnership with PFMCrypto, a novel AI-driven mining operation with dollar-pegged payouts is launched. Despite analysts' warning of a stall in Circle's stock supply, the company is continuously expanding. With ByBit in partnership, Circle ventures beyond previous collaborations with Coinbase and Binance. USDC has been introduced on Shopify, significantly enhancing merchant payments. Coinbase is exponentially driving the adoption of Circle's USDC for payments and financial services. Opposition stirs with Anchorage's plans to phase out USDC as crypto custodian, with Coinbase derivatives and Nodal Clear partnering over USDC integration. Moreover, Circle has shown plans to scale globally via augmentation of USDC accessibility, involving a partnership with OKX servicing 60 million users. Serious competition emerges with Tether's USDT dominance heightening in a bearish market trend. Circle has also applied for a national bank charter and the stock surged after passing Senate's stablecoin bill. On the downside, Mizuho is bearish on Circle's stock, and there are ongoing concerns on the overvaluation risk.
Both Circle and Ripple vie for the status of USDC stablecoin issuer. Despite declining market performance, USDC's usage as collateral in US futures trading was authorized. However, challenges persist as USDT leads on BitPay payments in 2025. Crucially, USDC incorporates Chain Services from Sam Altman’s World Chain project. Circle's IPO launch certainly signified a major shift in crypto stocks, and their application for a US trust bank charter could redefine the stablecoin landscape. Lastly, Shopify collaborates with Coinbase and Stripe to facilitate USDC stablecoin payments, triggering a surge in mainstream checkout payments.
USDC Coin News Analytics from Fri, 07 Feb 2025 08:00:00 GMT to Wed, 09 Jul 2025 21:00:00 GMT - Rating 6 - Innovation 7 - Rumor 2
