$USDC Over the past week, USD Coin (USDC) has maintained its stability, consistently trading at $1.00, in line with its design as a stablecoin pegged to the U.S. dollar. The 24-hour trading volume has been robust, averaging around $10 billion, and the market capitalization stands at approximately $61.5 billion. ​CoinDeskCoinMarketCap+1Binance+1

Key Developments:

Circle's Regulatory Approval in Abu Dhabi: Circle, the issuer of USDC, received in-principle approval from the Abu Dhabi Global Market's Financial Services Regulatory Authority to operate as a money services provider. This move signifies Circle's expansion into the Middle East and its commitment to global compliance. ​CoinDesk+1Watcher Guru+1

Visa and Baanx Partnership: Visa, in collaboration with fintech company Baanx, launched USDC-backed payment cards. These cards enable users to spend USDC directly from their crypto wallets, with transactions converted to fiat currency in real-time at the point of sale. ​CoinDesk

Ripple's Acquisition Attempt: Ripple reportedly made a $4–5 billion offer to acquire Circle, aiming to expand its stablecoin portfolio. However, the offer was declined, as Circle is preparing for an initial public offering