$USDC USD Coin ($USDC), the second-largest stablecoin with a $62 billion market cap, is seeing strong momentum in May 2025. Issued by Circle, it’s pegged 1:1 to the U.S. dollar, backed by dollar assets like Treasury bonds, and runs on 19 blockchains, with Ethereum as its primary hub. Recent news highlights its role in mainstream adoption: Mastercard’s partnership with MoonPay, OKX, and Nuvei lets users spend USDC at 150 million merchants via debit cards, with fiat conversion for merchants. Visa and Baanx launched USDC-linked payment cards for self-custodial wallets, focusing on low-cost cross-border payments. Stripe’s expansion of USDC-funded accounts to 100+ countries further boosts its utility for global commerce.Circle’s regulatory wins, like Abu Dhabi’s in-principle approval and MiCA compliance in the EU, make USDC attractive to institutions. Its Payments Network, launched in April 2025, targets remittances and cross-border transfers, competing with traditional rails. However, USDC trails Tether’s USDT ($149.5 billion market cap) in transaction volume, with USDT holding 62% of the stablecoin market. Ripple’s rejected $4-5 billion bid to acquire Circle (rumors of a $20 billion offer persist) signals fierce competition.Sentiment on X is mixed: bullish on USDC’s institutional appeal and regulatory clarity, but some worry about centralization and Circle’s profit motives from Treasury yields. Growth is strong—USDC’s supply is up 40% in 2025—but Tether’s liquidity and network effects keep it dominant. If you’re holding or trading USDC, its stability and integrations are strengths, but watch for regulatory shifts (e.g., the stalled U.S. GENIUS Act) and Tether’s moves. Want specifics on yields or DeFi use cases?