↑ 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...
There has been significant activity around the USDC Coin lately, involving various exchanges, technology integrations, countries, and regulatory happenings. For instance, Crypto exchange KuCoin has integrated Polkadot USDC deposits, while another exchange, OKX, added support for new USDC spot trading pairs. Concurrently, PayPal's PYMNTS stablecoin has hit a new milestone, surpassing $1 billion in market cap.
Vitalik Buterin, Ethereum's co-founder, openly favors USDC on Ethereum over CEX transfers, while Coinbase envisages unlimited compatibility potential with Ethereum and USDC. Concurrently, popular crypto exchange, Binance, has decided to discontinue support for USDC stablecoin on the Tron blockchain network.
Apart from these, Ripple is planning to launch a US dollar stablecoin to compete with USDT and USDC. Meanwhile, Stripe is enabling merchants to accept USDC payments on Ethereum, Solana, and Polygon networks. Simultaneously, stablecoin issuer Circle files for IPO in the U.S., and a whopping $1.4 Billion USDC got moved to Coinbase, eliciting speculations of a Bitcoin rally.
Besides, the USDC stablecoin issuer, Circle, has expanded its operations to Brazil in collaboration with BTG Pactual and Nubank. Interestingly, compliance seems to be a key aspect of stablecoin dominance as USDC overtakes USDT.
USDC Coin News Analytics from Mon, 27 Nov 2023 08:00:00 GMT to Tue, 27 Aug 2024 16:57:41 GMT - Rating 5 - Innovation 2 - Information 8 - Rumor 3
