#Circle扩大IPO规模 Core Features and Market Position

Issuance Mechanism and Reserve Transparency

USDC ensures currency stability by holding equivalent US dollar assets (such as cash and U.S. Treasury bonds) as reserves. As of May 2025, the circulation amount is $60.49 billion, and reserves reach $60.74 billion, with funds isolated, custodied, and regularly audited. Compared to USDT, USDC has higher compliance, especially among institutional users.

Multi-Chain Support and Global Applications

USDC is circulating on 19 blockchains including Ethereum and Solana, suitable for cross-border payments, cryptocurrency trading, DeFi (Decentralized Finance), and other fields. For example:

Cross-Border Payments: Merchants can make near-instant transfers using USDC, with fees only 50% of traditional banks;

DeFi Ecosystem: In the lending platform Spark, users can earn 4.5% annualized returns by depositing USDC while also participating in liquidity mining.

Market Position and Growth

USDC is the second largest stablecoin, following USDT, with a projected 40% growth in circulation in 2024, significantly exceeding USDT's 10%. With the U.S. GENIUS Act promoting the development of compliant stablecoins, its market share is expected to further expand.