$USDC As of May 4, 2025, USD Coin (USDC) maintains its peg to the U.S. dollar, trading at approximately $1.00 with a market capitalization of around $61.5 billion, making it the second-largest stablecoin and the seventh-largest cryptocurrency overall .

Key Developments:

Circle's IPO Filing: Circle, the issuer of USDC, has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker symbol "CRCL." The company reported $1.68 billion in revenue over the past year, although net income decreased to $157 million from $271.5 million the previous year .

Circle Payments Network Launch: Circle recently introduced the Circle Payments Network, aiming to enhance interoperability and efficiency in cross-border transactions. This initiative positions USDC as a potential backbone for global payments, challenging traditional systems like SWIFT and Visa .

Regulatory Recognition: The U.S. Securities and Exchange Commission (SEC) has acknowledged USDC as a "Covered Stablecoin," indicating that its offer and sale do not constitute securities transactions under federal law .

Expansion into Japan: Circle has received approval for USDC's use in Japan, reflecting the growing global adoption of stablecoins .

European Headquarters in Paris: Circle has established its European headquarters in Paris, France, signaling its commitment to expanding operations within the European market .