Here's the latest on USDC (USD Coin), Circle’s U.S. dollar-pegged stablecoin, as of June 18, 2025:
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📈 Market Momentum
Record Market Cap: USDC has reached a new all-time high with a market capitalization of $60.2 billion, doubling its value over the past year. This growth outpaces Tether (USDT), which added $4.4 billion during the same period.
Weekly Trading Volume: The average weekly trading volume for USDC has surged to $23 billion in 2024, up from $9 billion in 2023, reflecting increased institutional and retail adoption.
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🌍 Global Expansion
Japan Launch: USDC has been approved for use in Japan, marking a significant milestone for stablecoin adoption in Asia.
Dubai Approval: The stablecoin has also been recognized under Dubai’s new financial regime, facilitating its use in the region's financial free zones.
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🏛️ Regulatory Developments
GENIUS Act Passage: The U.S. Senate passed the GENIUS Act on June 17, 2025, establishing a federal regulatory framework for stablecoins. The bill mandates that stablecoins like USDC be backed by liquid assets such as U.S. dollars and Treasury bills, with monthly reserve disclosures.
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💼 Institutional Adoption
Corporate Interest: Major U.S. banks, including Bank of America and Morgan Stanley, are exploring stablecoin initiatives, with pilot programs under consideration. Retail giants like Walmart and Amazon are reportedly considering their own stablecoins.
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