More than $15 billion USD Coin (USDC) are now in circulation across multiple blockchain platforms, including Ethereum, Solana, Algorand, and Stellar! The milestone comes less than eight weeks after crossing the $10 billion mark; USDC is growing more quickly than any other stablecoin, and has recently been adopted by Visa, Tala, and a host of other businesses using stablecoins to leverage blockchain technology without the volatility risk of other cryptocurrencies.
Before the launch of USDC in 2018, stablecoins were a little known corner of the crypto market; funded by obscure counterparties and operated with little regulation. Just three years later, USDC has become the DeFi stablecoin of choice, helping fuel the meteoric rise of the entire crypto market, and has facilitated millions of transactions worth billions in value. Between December 2020 and May 2021, the supply of USDC increased from less than $3 billion to more than $15 billion — growth of more than 425% in less than 180 days.
USDC has emerged as an essential part of the digital economy, from crypto trading firms and DeFi protocols to NFT marketplaces and other decentralized applications. Payments and treasury management infrastructure using Circle APIs and a free Circle Account are also driving huge demand for USDC, bringing 24/7 availability, near-instant settlement, and unbeatable blockchain-based security to corporate financial operations.
USDC has also become a leading gateway for traditional financial institutions and neobank startups to gain a foothold in crypto markets, unlocking cross-border transactions and fully-reserved liquidity for billions of customers around the globe.
It all adds up to unprecedented adoption of USDC, the world’s fastest growing, fully regulated and reserved dollar digital currency. We’re just getting started and proud to be helping businesses raise prosperity through digital commerce all over the world. Get ready for the next $15 billion!