USD Coin (USDC), a popular stablecoin, continues to make significant strides within the cryptocurrency space. The stablecoin's usage is growing considerably, with a 78% increase in circulation attributed to
Circle, the issuer of USDC. Notably, after its recent expansion to Japan, the
stablecoin has garnered approval for use, positioning it favorably in the Asian market. The stablecoin has secured a significant presence in the gambling scene, with several top sites endorsing it. Despite recent market volatility, USDC remains stable, recording negligible fluctuations.
Circle is set to launch an Initial Public Offering (IPO), a major move that follows its compliance with regulations set by the Securities Exchange Commission (SEC), which clarified that most stablecoins, including USDC, aren’t securities. The IPO comes despite challenging market conditions and solidifies the
crypto industry’s presence within public markets. Even amidst global market stress, USDC has displayed resilience, contributing to Coinbase earning more from USDC than Circle. With
Binance backing USDC, Circle seems set to take on Tether's dominance in the stablecoin space. Further, the stablecoin’s issuer purchased Hashnote, a tokenized company valued at $1.3B, bolstering its market position.
This growth has led to a significant milestone with USDC’s market capitalization reaching $60 billion. The stablecoin and USDT currently hold 90% of the stablecoin market share. Furthermore, it appears that USDC is being increasingly adopted as a payment option, with Sony Electronics Singapore now accepting the stablecoin through a partnership with Crypto.com.
USDC Coin News Analytics from Wed, 20 Nov 2024 08:00:00 GMT to Wed, 09 Apr 2025 18:34:52 GMT -
Rating 8
- Innovation 7
- Information 8
- Rumor -3
