Here are the latest developments surrounding USD Coin (USDC) as of May 2025:
🏛️ Circle Files for IPO on NYSE :
Circle, the issuer of $USDC , has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker symbol "CRCL." This move comes amid economic uncertainties and volatile markets. In its filing, Circle reported a net income of $155.7 million in 2024, down from $267.5 million the previous year, with $1.68 billion in revenue and reserve income. This IPO attempt follows a previously planned SPAC merger in 2021 that did not materialize.
🌐 USDC Gains Approval in Japan :
Circle announced that its $USDC stablecoin has received approval for use in Japan. Starting March 26, 2025, USDC will be available on Japan’s SBI VC Trade crypto exchange.
📈 USDC Trading Volume Hits Record High:
USDC has achieved back-to-back volume records, reaching $219 billion last month—more than double since January. This surge is driven by a major partnership with Binance. Meanwhile, new rivals like Paxos’ USDG and yield-bearing stablecoins are gaining traction, and regulatory shifts are on the horizon as Europe’s MiCA rules take effect.
⚔️ Rivalry Between Circle and Tether Intensifies :
A fierce battle is unfolding between Circle's CEO Jeremy Allaire and Tether's owner Giancarlo Devasini over the future of the cryptocurrency industry. While Circle advocates for greater regulation to integrate crypto into the mainstream financial system, Tether prefers a less regulated, anti-establishment approach. This rivalry reflects a broader struggle over the direction of the $3 trillion crypto market.
💱 USDC Maintains Stable Peg :
As of now, $USDC is trading at $1.00 USD, maintaining its peg to the U.S. dollar. The stablecoin has a circulating supply of approximately 60.87 billion USDC coins.