⇑ USDC Coin Flourishes Globally with a $60B Market Cap and Expanding Partnerships
Rosenblatt has recommended buying the dip in Coinbase , citing the growth of the USDC stablecoin . Coinciding with this, the USDC stablecoin...
In an array of noteworthy updates, Circle, the issuer of the stablecoin USDC, has publicly announced IPO implementation plans amid a volatile cryptocurrency market. The firm is pegged at a $5 billion valuation and intends to enlist on the NYSE. Parties including Coinbase, an acclaimed competitor of USDC, also shared monetary gains from USDC's performance. It also became apparent the USDC reserves have yielded 50% revenue for Coinbase. Notably, Sony Electronics Singapore confirmed the acceptance of USDC payments made through a partnership with Crypto.com. The prominent electronics brand has led through example, increasing the market visibility for USDC.
Anticipating future growth and widespread acceptance of USDC, Circle is aggressively exploring innovative endeavors. They signed a Memorandum of Understanding with the Intercontinental Exchange to leverage USDC's digital assets and explore new offerings. As stablecoin popularity rises, Circle's revenue has been observed to increase, despite a decrease in profitability, as stated in the IPO filing.
Further advancing its market presence, Circle revealed plans to introduce the USDC stablecoin in Japan following regulatory concord, making it the first-ever USD stablecoin authorized in the country. The recent circle crackdown in Japan hints at a positive scenario for USDC adoption. Reports also hinted at the expansion of USDC adoption following successful regulatory approval in Japan. Amplifying the stablecoin's success, the USDC treasury recently minted $250 million on Solana, signaling strong stablecoin demand.
USDC Coin News Analytics from Wed, 20 Nov 2024 08:00:00 GMT to Wed, 02 Apr 2025 18:00:00 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor 8
