$USDC two giants of the stablecoin market. Although Tether has a larger market share, it has been controversial due to transparency issues regarding its reserves. In contrast, USDC has gained trust through regular audits and compliance. In August 2024, data from Visa showed that the transaction volume of USDC surpassed that of Tether, indicating its growth in the payments sector. USDC is managed by Circle, with reserves held in banks recognized by U.S. regulators, while Tether operates in a more mysterious manner. The competition between the two has driven the standardization of the stablecoin market, with USDC gradually becoming the preferred choice of institutions.