As of May 2025, USDC (a dollar stablecoin issued by Circle) is rapidly expanding its global applications. Circle has launched the Circle Payments Network, aimed at enhancing the efficiency and interoperability of cross-border payments, and has partnered with TransFi to provide businesses with instant USDC liquidity and compliant fund management solutions. Additionally, USDC's exchange reserves have reached a 14-month high of $6.5 billion, indicating a rising demand in the market. However, regulatory challenges remain, such as Binance announcing that, starting May 16, Polish users will be unable to use USDC for certain services. Overall, USDC's role in global financial infrastructure is becoming increasingly important, but it still needs to navigate a constantly changing regulatory environment.