$USDC What distinguishes USD1 from competitors like USDT and USDC is its supposedly fee-free minting and redemption mechanism, eliminating the traditional friction points that affect stablecoin users. This approach, combined with its institutional focus and political backing, has allowed USD1 to achieve a remarkable market capitalization of $2.1 billion in just over a month since its launch, positioning it as a significant player in the $238 billion stablecoin ecosystem.