In the midst of the stablecoin rush, USDC is still the safe bet for major market players, backed by Circle, which operates on a transparent system and publishes monthly reports that fully disclose its reserves in dollars or short-term U.S. Treasury bills. This gives security to investors, especially institutions, that every USDC dollar has a real guaranteed counterpart.
Unlike USDT from Tether, which is always surrounded by doubts due to a lack of transparency and vague reports, USDC has managed to establish itself as the most trusted stablecoin in decentralized finance (DeFi) and is embraced by most global exchanges. Additionally, massive projects like Coinbase and Visa have started to integrate it into their systems as a payment and transfer method.
Circle is also expanding its projects like CCTP, which allows for easy transfer of USDC between different blockchain networks, making it more flexible for both decentralized and centralized uses.
What will change the game is the Genius Law approved by the Senate. The law mandates that stablecoins must be fully backed, provide transparent reports, and comply with anti-money laundering regulations.
This means all paths lead to USDC because it is fully prepared to comply, with a strong and organized infrastructure that does not need to change its model to adhere to the law, while other competitors will have to reassess their strategies.
If this law passes the House of Representatives, USDC will be in a position of strength, and the future of stablecoins will begin to shape around it. 💥