↑ USDC Coin Gaining Momentum Amid Rising Stablecoin Competition
Coinbase Wallet has introduced a rewards program for its USDC holders with a 4.7% APY. This move positions USDC in direct competition with...
The USD Coin (USDC) has had a notable presence in cryptocurrency news in recent times. Notably, companies like Circle and Coinbase partner with payment infrastructure company Stripe to facilitate USDC transfers. Crypto firm Circle has also earned a license to mint USDC and EURC stablecoins under the European Union's MiCA regulatory framework. Such moves suggest USDC's increasing importance in the global digital asset custody market.
Crypto wallet SafePal explores the banking sector with a new USDC Visa Card, while Binance has confirmed it's continuous support for USDC in the EU. Additionally, several reports suggest that USDC could challenge Tether's stablecoin dominance. Towards this, Circle's USDC has overtaken Tether's USDT in stablecoin transactions, according to Visa. Also noteworthy is the fact that Coinbase garnered the largest USDC inflow ever, hinting at significant growth potential.
Despite these positive developments, there were also occasional challenges, such as USDC's momentary depeg to $0.74 on Binance. Furthermore, Coinbase has been said to be playing a 'dangerous game' with the Securities and Exchange Commission over the use of its stablecoin USDC.
Overall, these developments reflect the rapid evolution and expanding reach of USD Coin in the crypto market.
USDC Coin News Analytics from Thu, 14 Sep 2023 22:39:55 GMT to Fri, 05 Jul 2024 03:25:12 GMT - Rating 8 - Innovation 5 - Information 7 - Rumor 3
