As the global reach and impact of open money continues to gain pace - the number of on-chain wallets now holding at least $10 in USDC grew nearly 60% in the last year - 2024 marks a moment of critical inflection for the internet financial system
DAVOS, Switzerland, and BOSTON, January 15 2024 - Circle, a global financial technology firm and the issuer of the leading regulated stablecoin, USDC, is proud to unveil its second annual State of the USDC Economy Report, entitled ‘Welcome to the Era of Open Money.’
The State of the USDC Economy Report serves as a comprehensive overview of the dynamic landscape surrounding the company’s digital dollar - including adoption trends and the global regulatory context for payment stablecoins. The report provides an in-depth analysis of the burgeoning internet financial system, with a focus on the concept of open money and the increasing significance of programmable payments. The “era of open money” signals a profound paradigm shift for global finance, in which financial value flows as seamlessly, cost-effectively, and instantaneously as other forms of data on the internet.
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Featuring case studies with some of the world's most prominent financial service providers and technology leaders, including Visa, MoneyGram, Grab, Nubank, Stripe, Worldpay from FIS, and others, this year's edition of the report presents compelling insights into the pivotal role of USDC in streamlining global finance. The report also highlights how USDC is disrupting remittances, cross-border payments, aid disbursement and charitable giving, as well as how it is providing a stable store of value to mitigate the adverse effects of high inflation.
"For over five years, USDC has been at the forefront of driving world-scale open payments to lower the bottom rung of economic mobility. Together with forward-looking regulators and global partners, we are paving the way towards a more equitable, inclusive, and promising future," said Dante Disparte, Circle's Chief Strategy Officer and Head of Global Policy.
This year's report is viewable for public access via a dynamic landing page interface, and also downloadable in PDF format.