Company
Date Published
Author
Team Circle
Word count
404
Language
English
Hacker News points
None

Summary

Launched just three weeks ago, USD Coin (USDC) has experienced rapid growth in daily trading volumes, a substantial increase in global market capitalization, and widespread adoption throughout the crypto industry, driven by its transparency and compliance benefits. Trading volume has surged by 2,000% week over week, and market capitalization has risen by 85% to over $25 million, with more than 40 companies now supporting USDC. The demand for seamless fiat currency transactions and stable value movement across exchanges is fueling this adoption, as USDC provides essential infrastructure for new financial products and services on the internet. As the first fiat token from CENTRE, with Circle leading its issuance, USDC is expected to continue expanding in the future as more companies join the ecosystem.