Circle, the issuer of the USD Coin (
USDC), is making significant moves in the cryptocurrency market with several notable developments. As a stablecoin anchored to the US dollar, USDC's positioning is becoming more prominent and robust. Circle continues to receive strong support from cryptocurrency exchange giants
Coinbase,
Binance, and payment processor
Stripe. Recently, USDC's dominance over other stablecoins like Tether (USDT) has increased due to its robust compliance measures and interoperability potential with Ethereum. The stablecoin’s issuer has also entered the Brazilian market, partnering with BTG Pactual and Nubank. Further illustrating its robustness,
USDC trading volume soared 48% in July, driven by market growth and the EU’s MiCA regulation. In the context of tech involvement,
Apple's NFC update for iPhones has integrated USDC, ushering in a new era of stablecoin payments for the mainstream tech giant's users. Potentially influencing USDC's future, Binance opted to convert its delisted tokens to USDC, indicating a putative pivot from previously favored stablecoins. Projected to fight for dominance in the stablecoin industry, Ripple hints at launching a US dollar stablecoin to challenge the likes of USDT and USDC. Lastly,
Circle’s potential IPO in the US has raised the eyebrows of many, especially as it hints at growth despite SEC’s lingering concerns on USDC.
USDC Coin News Analytics from Mon, 18 Dec 2023 08:00:00 GMT to Tue, 20 Aug 2024 15:51:33 GMT -
Rating 8
- Innovation 6
- Information 7
- Rumor -5
