$USDC #USDC **Latest update on USDC (USD Coin) – June 2024**

**USDC**, the second largest stablecoin by market capitalization (pegged 1:1 to the US dollar), continues to play a vital role in cryptocurrency markets. Recently, its issuer, **Circle**, has expanded the reach of USDC across multiple blockchains, including Ethereum, Solana, Avalanche, and Base, improving cross-chain liquidity.

### **Key developments:**

1. **Regulatory clarity**: Circle has been proactive in complying with global regulations, including the EU's MiCA framework, ensuring that USDC remains a trusted stablecoin.

2. **Institutional adoption**: Major financial institutions and DeFi platforms increasingly rely on USDC for settlements, payments, and liquidity.

3. **Transparency**: USDC maintains full reserves, verified monthly, with a mix of cash and short-term US Treasury bonds.

4. **Expansion**: Circle is driving broader adoption in emerging markets, leveraging USDC for fast, low-cost remittances and access to the dollar.

### **Market status:**

- **Market capitalization**: ~$32 billion (as of June 2024).