The global market cap for USDC has officially passed $10 billion! More than two years after launching the world’s leading compliant and regulated digital dollar stablecoin, growth continues to accelerate as shifting macroeconomic trends and exploding innovation in digital assets drive demand across diverse industries around the world.
In March 2020, the total supply of USDC stood at less than $1 billion. With $10 billion now on the books, we’re celebrating growth of more than 1,000% in that short time, and a CAGR of more than 9,500% in the past 90 days. To put things in perspective, that incredible ramp saw the supply of USDC jump from less than $4.5 billion on the first day of 2021 to the $10 milestone we’re announcing today—more than doubling circulating USDC in less than a single quarter. So far, more than $534 billion has changed hands using USDC. And progress isn’t confined to just the Ethereum ecosystem. USDC supply on the Stellar, Algorand, and Solana blockchains has increased more than 100% in the last 30 days alone.
The World Runs on USDC
Global demand for dollar stablecoins is robust and growing, as businesses and customers in international markets grapple with volatile fiat currency exchange rates and runaway inflation as struggling national economies try to print their way out of economic stagnation. Circle Accounts represent the easiest, most streamlined gateway to dealing in digital dollars, across multiple blockchains and with enterprise level security. Circle Payments make it simple for treasury managers and other business leaders to make sure invoices and employees are paid on time and avoid the clunky pain points of the legacy financial system.
DeFi lit the fuse of the ongoing crypto expansion cycle, with USDC serving alongside Ethereum as the beating heart of the decentralized financial revolution. From straightforward savings programs that trounce returns offered by legacy banks to complex yield-generating vaults from Yearn or Curve Finance, USDC has become an integral part of emerging capital markets designed for the digital age. And soon, Circle high yield accounts will bridge the gap between DeFi innovation and corporate-level capital management.
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