Impressive Growth of USDC

According to reports from Circle, the stablecoin $USDC has achieved an astonishing growth of 78% in 2024. The total monthly transaction value of USDC exceeded $1 trillion in November 2024, and the total transaction value to date surpassed $20 trillion.

USDC currently has over 500 million users worldwide and is supported on 16 blockchains, having converted over $850 billion between fiat currencies.

Strict Regulatory Compliance

Circle asserts that compliance with regulations, such as the EU's #MiCA and listing rules in Canada, plays a crucial role in the development of USDC.

  • Tether (USDT), USDC's biggest competitor, lacks proactivity in compliance issues. Over the past year, Coinbase has delisted USDT in Europe, while Binance has established a strategic partnership with Circle.

Comparison with Tether

Although USDC has seen strong growth, USDT still maintains its leading position. However, in the past 30 days, USDT's market capitalization has decreased by 2.15%, from $140 billion to $137 billion. In contrast, USDC's market cap has increased by over 9.5%, from $42 billion to nearly $46 billion.

Additionally, Circle's stablecoin #EURC (the USDC version in euros) has also achieved weekly trading volumes exceeding $1 billion, marking a strong expansion in the European market.

Global Expansion Efforts

Circle focuses on expanding the reach of USDC through:

  1. In partnership with #MoneyGram and Chipper Cash, providing a solution for converting between USDC and local currencies, helping users without bank accounts access digital finance.

  2. Cross-Chain Transfer Protocol, supporting more than $20 billion USDC transactions across blockchains.

Vision for the Future

Circle aims to grow strongly in areas such as:

  • Global payments.

  • Tokenized trade finance.

  • Point-of-sale payments.

  • Integrating stablecoins into traditional payment networks like Mastercard and Worldpay, expanding access to digital payments for businesses and consumers.

Conclusion

Although it has not yet surpassed USDT, USDC is asserting its important role in connecting traditional finance with digitization. With a focus on regulatory compliance and expanding real-world applications, USDC has great potential in driving global economic inclusion.

(Note: This article is for informational purposes only and is not investment advice.) #anhbacong