↗ A Deeper Insight into the Rapid Developments and Expansive Growth of USDC Coin
USDC Coin , a notable stablecoin, has recently been making waves in the crypto market. The token has recorded impressive inflow and outflow...
Coinbase CEO Brian Armstrong has been urging other organizations to integrate the USDC stablecoin into their payment systems. Expansions have already been witnessed as Binance partnered with Circle, the issuer of USDC, to extend the adoption of this stablecoin while dealing a blow to the dominance of Tether. Solana network also witnessed the addition of USD 1 billion worth of Stablecoins in December.
USDC witnessed a record-breaking inflow of USD 1.24 billion on spot exchanges, raising questions about its impact on Bitcoin’s price. Retail users can now pay for their movie tickets with USDC at Regal movie theaters while saving 10% when paying through a Coinbase Wallet. Stripe reentered the crypto domain by enabling USDC payments for US businesses.
Amidst these expansions, the European Union’s MiCA regulations have forced Coinbase to end its USDC rewards program for its users in Europe. Critics of USDC highlight concerns around North Korea's suspected involvement in hacking the HyperLiquid platform, which experienced a record USD 60 million in USDC net outflows.
In brighter advancements, Circle announced the launch of its USDC stablecoin on the Sui network, while its European stablecoin ambitions are spelled out through plans to mint USDC and EURC MiCA compliant stablecoins in EU. Eventually, Circle aims to integrate USDC into the national payment systems of Brazil and Mexico.
USDC Coin News Analytics from Mon, 25 Mar 2024 07:00:00 GMT to Tue, 31 Dec 2024 20:36:43 GMT - Rating 7 - Innovation 0 - Information 6 - Rumor -4
