$USDC

In a bold move, Ripple Labs offered between $4 billion and $5 billion to acquire Circle, the issuer of the USDC stablecoin, but Circle rejected the offer as too low. USDC, with a market capitalization of $62 billion, is the second-largest stablecoin, backed by companies like BlackRock. Ripple, which is expanding its RLUSD stablecoin, aims to compete in the $230 billion stablecoin market. Meanwhile, Circle has partnered with Unafric to reduce cross-border payment costs in Africa, which amount to $5 billion, using USDC. Circle has also received regulatory approval in Abu Dhabi, boosting its expansion in the Middle East. Despite Tether's dominance, USDC's growth indicates a shift in cryptocurrency dynamics.