↑ 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 M^0 protocol is challenging the dominance of Tether and USDC stablecoins. Meanwhile, the price of USD Coin has reached $1.00 on various exchanges providing ideal conditions for earning yield via interest rates. Amid the backdrop, USDC is gaining ground in the DeFi sector as its competition with USDT becomes fiercer, according to a Keyrock report.
BIS cracking down on USDT and USDC is causing turbulence for stablecoins. In other news, Caliza has raised $8.5 million dollars to facilitate cross-border payments using USDC in Latin America. Furthermore, Coinbase, in partnership with Stripe, is enabling USDC transfers on Base which threatens USDT's market position.
Circle’s CEO flagged potential risks for banks in the face of MiCA rules, even as ByBit applauded the EU for approving USDC stablecoin. Business moves include Binance's decision to stop supporting USDC stablecoin on the Tron network, and OKX pursuing MiCA compliance on its Maltese hub with plans to add EUR and USDC trading pairs.
In Brazil, Circle has brought USDC to its users and Nubank has added the stablecoin to its crypto offerings. Over time, it seems Circle's USDC is gaining traction over Tether's USDT due to compliance playing a key role in stablecoin dominance.
USDC Coin News Analytics from Fri, 22 Sep 2023 09:19:24 GMT to Fri, 19 Jul 2024 12:30:36 GMT - Rating 5 - Innovation 4 - Information 9 - Rumor 1
