$USDC

The global e-commerce giant Shopify recently confirmed plans to integrate the USDC stablecoin with Circle by the end of 2025.

Data researcher A16Z Crypto, Daren Matsuko, predicts that stablecoins may be the answer for massive adoption of crypto.

"Stablecoins now present what I believe is the first credible opportunity to attract one billion people to crypto," said Matsuoka in a post on platform X on June 6.

The transaction volume of stablecoins is approaching 20 times the volume of PayPal. Matsuoka pointed to the USD 33 trillion transaction volume that stablecoins have recorded over the last 12 months.

"If we look further, that number is approaching 20 times the volume of PayPal, nearly three times the volume of Visa, and is rapidly approaching ACH volume," he said. This comes after Circle recently listed its shares on the New York Stock Exchange (NYSE). On June 5, the stablecoin issuer successfully entered the capital market with shares rising 167% in the first trading session.

However, Circle's biggest competitor, Tether, stated that it is not interested in following the same path. Just a few days after Circle's listing, on June 8, Tether CEO Paolo Ardoino stated that the stablecoin issuer has no intention to go public.