USD Coin (USDC) is a stablecoin that is pegged to the US dollar. USDC is classified as a centralized stablecoin, backed by U.S. dollars or dollar-denominated assets like U.S. Treasury securities. It is issued by Circle.
USD Coin (USDC)
USD Coin (USDC) is a stablecoin that is pegged to the US dollar. USDC is classified as a centralized stablecoin, backed by U.S. dollars or dollar-denominated assets like U.S. Treasury securities. It is issued by Circle.
Circle's IPO opens the door for public investors to benefit from stablecoin seigniorage for the first time. Unlike crypto miners or exchanges, Circle profits from monetary demand for USDC—a zero-interest asset backed by interest-bearing reserves—and now shares that upside through equity.
Stablecoins remain one of the top use cases in crypto, with the market showing tremendous growth year over year. USDC market share climbs to 25% taking 4% from USDT. The velocity measure for USDT of Tron and USDC is almost equal, while USDT on Ethereum moves two times slower.
Circle’s first post-IPO results show USDC supply nearly doubled YoY to $61.3B, market share up to 26%, and revenue +53% to $658M. The $1.2B IPO boosted equity to $2.37B, funding new plays like the Circle Payments Network and Arc blockchain in a bid to challenge Tether’s dominance
Circle’s first post-IPO results show USDC supply nearly doubled YoY to $61.3B, market share up to 26%, and revenue +53% to $658M. The $1.2B IPO boosted equity to $2.37B, funding new plays like the Circle Payments Network and Arc blockchain in a bid to challenge Tether’s dominance
Circle's IPO opens the door for public investors to benefit from stablecoin seigniorage for the first time. Unlike crypto miners or exchanges, Circle profits from monetary demand for USDC—a zero-interest asset backed by interest-bearing reserves—and now shares that upside through equity.
Stablecoins remain one of the top use cases in crypto, with the market showing tremendous growth year over year. USDC market share climbs to 25% taking 4% from USDT. The velocity measure for USDT of Tron and USDC is almost equal, while USDT on Ethereum moves two times slower.
Coinbase and Circle joined forces to offer 4.75% APY for USDC holders. This partnership is expected to attract users to Coinbase’s products, while also boosting the usage of USDC.
Coinbase plans to delist Tether's stablecoins in the EU, giving a strong push to its related party Circle. Meanwhile, Tether is developing a new technology solution tailored for the EU market that mitigates the risks of non-compliance with the EU MiCA regulation.
USDC's Circle has been making bold moves at home and abroad to secure the SEC's approval of its IPO. The combination of the digital dollar and going public strategy means this major stablecoin issuer introduces a new paradigm to money technology - a public seigniorage.
