$USDC the second largest stablecoin pegged to the dollar, continues to be widely used in payments, remittances, and global finance, maintaining a stable value (~US$1) with full backing in liquid reserves. On June 17, 2025, the U.S. Senate approved the GENIUS Act by a vote of 68–30, creating federal regulation for stablecoins — requiring backing in liquid reserves and monthly disclosures — which boosted Circle's (issuer of USDC) stock by +16%. The USDC is also set to become collateral for futures traded in the U.S. in 2026, and has been integrated into the XRP Ledger, strengthening its institutional adoption. The market sees these advances as an institutional milestone and a pathway to mainstream use of stablecoins.