USDC Circulation Soars 78% Year-Over-Year According to Circle Report
USDC, the second-largest stablecoin by market capitalization, saw a 78% year-over-year increase in circulation as reported by Circle Internet Group. This growth outpaced all other major stablecoins.
- Factors driving this increase include greater adoption and expanded use cases.
- Circle is the first major global stablecoin issuer to comply with the EU’s Markets in Crypto Assets (MiCA) regulation.
- It also meets new listing rules set by Canadian authorities.
2024 USDC Highlights
- USDC achieved $1 trillion in monthly transaction volume last November, with total transactions exceeding $20 trillion.
- Available in over 180 countries, serving unbanked populations.
- More than 500 million users access USDC via various apps and wallets.
- Circle has facilitated over $850 billion bridging fiat and blockchains since 2018.
- Major partnerships include MoneyGram, Stripe, Standard Chartered, and Mastercard.
Circle contributed 1 million USDC to Trump’s Inaugural Committee, illustrating the growing acceptance of digital dollars.